Brokerages Set Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Price Target at $24.00

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $24.75.

UNCY has been the subject of several research reports. Westpark Capital initiated coverage on shares of Unicycive Therapeutics in a report on Thursday, February 19th. They set a “buy” rating for the company. Benchmark restated a “speculative buy” rating and set a $18.00 price target (up from $15.00) on shares of Unicycive Therapeutics in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Unicycive Therapeutics in a research note on Wednesday, May 27th. Finally, B. Riley Financial assumed coverage on shares of Unicycive Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $22.00 target price for the company.

Institutional Trading of Unicycive Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Unicycive Therapeutics by 19.0% in the fourth quarter. State Street Corp now owns 65,227 shares of the company’s stock valued at $376,000 after purchasing an additional 10,400 shares during the period. Lazard Asset Management LLC bought a new position in shares of Unicycive Therapeutics in the second quarter valued at approximately $55,000. JPMorgan Chase & Co. raised its position in shares of Unicycive Therapeutics by 11,698.4% in the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock valued at $104,000 after purchasing an additional 21,525 shares during the period. Renaissance Technologies LLC bought a new position in shares of Unicycive Therapeutics in the first quarter valued at approximately $161,000. Finally, Bank of America Corp DE raised its position in shares of Unicycive Therapeutics by 19,327.6% in the first quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock valued at $194,000 after purchasing an additional 29,378 shares during the period. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Unicycive Therapeutics Trading Down 6.9%

NASDAQ:UNCY opened at $6.92 on Friday. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $11.00. The company has a 50-day moving average of $7.32 and a 200-day moving average of $6.68. The firm has a market cap of $184.76 million, a price-to-earnings ratio of -3.13 and a beta of 1.73.

Unicycive Therapeutics (NASDAQ:UNCY) last released its earnings results on Tuesday, May 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08). On average, research analysts forecast that Unicycive Therapeutics will post -1.34 earnings per share for the current year.

About Unicycive Therapeutics

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.