Unicycive Therapeutics (NASDAQ:UNCY) Stock Price Up 2.4% – Should You Buy?

Unicycive Therapeutics, Inc. (NASDAQ:UNCY)’s share price traded up 2.4% on Wednesday . The company traded as high as $6.46 and last traded at $6.37. 266,583 shares were traded during trading, a decline of 57% from the average session volume of 623,615 shares. The stock had previously closed at $6.22.

Analyst Upgrades and Downgrades

UNCY has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective (up previously from $9.00) on shares of Unicycive Therapeutics in a research note on Wednesday, October 29th. Guggenheim reiterated a “buy” rating on shares of Unicycive Therapeutics in a research note on Tuesday, December 30th. Wall Street Zen raised Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Unicycive Therapeutics in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.33.

Unicycive Therapeutics Stock Up 2.4%

The company’s fifty day moving average is $6.20 and its 200 day moving average is $5.25. The stock has a market cap of $136.89 million, a PE ratio of -1.61 and a beta of 1.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in shares of Unicycive Therapeutics by 19.0% during the fourth quarter. State Street Corp now owns 65,227 shares of the company’s stock worth $376,000 after acquiring an additional 10,400 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Unicycive Therapeutics during the second quarter valued at approximately $55,000. JPMorgan Chase & Co. boosted its holdings in shares of Unicycive Therapeutics by 11,698.4% during the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock valued at $104,000 after acquiring an additional 21,525 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Unicycive Therapeutics in the fourth quarter valued at approximately $226,000. Finally, Citadel Advisors LLC bought a new stake in shares of Unicycive Therapeutics during the third quarter valued at approximately $182,000. 40.42% of the stock is currently owned by hedge funds and other institutional investors.

Unicycive Therapeutics Company Profile

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury. The company was incorporated in 2016 and is based in Los Altos, California.