Traders Purchase High Volume of Unicycive Therapeutics Call Options (NASDAQ:UNCY)

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of some unusual options trading on Tuesday. Traders bought 2,298 call options on the company. This is an increase of approximately 300% compared to the typical volume of 575 call options.

Institutional Trading of Unicycive Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Unicycive Therapeutics by 19.0% during the 4th 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 in the last quarter. Lazard Asset Management LLC bought a new stake in Unicycive Therapeutics in the 2nd quarter worth approximately $55,000. JPMorgan Chase & Co. boosted its stake in shares of Unicycive Therapeutics by 11,698.4% in the 2nd 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 in the last quarter. Renaissance Technologies LLC purchased a new stake in Unicycive Therapeutics during the first quarter valued at about $161,000. Finally, Bank of America Corp DE increased its stake in Unicycive Therapeutics by 19,327.6% in the 1st quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock worth $194,000 after purchasing an additional 29,378 shares during the period. Hedge funds and other institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Trading Down 45.8%

NASDAQ UNCY traded down $3.52 during trading hours on Tuesday, hitting $4.17. 11,208,581 shares of the company’s stock were exchanged, compared to its average volume of 811,576. The stock has a 50-day simple moving average of $7.55 and a 200 day simple moving average of $6.84. The firm has a market cap of $114.35 million, a price-to-earnings ratio of -1.90 and a beta of 1.74. Unicycive Therapeutics has a 1-year low of $3.71 and a 1-year high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). On average, sell-side analysts anticipate that Unicycive Therapeutics will post -0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Unicycive Therapeutics in a research note on Wednesday, May 27th. Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 9th. Guggenheim reiterated a “buy” rating and issued a $37.00 target price (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday, May 13th. Wall Street Zen downgraded Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Benchmark reissued a “speculative buy” rating and issued a $18.00 target price (up from $15.00) on shares of Unicycive Therapeutics in a report on Tuesday, June 2nd. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Unicycive Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $24.75.

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.