Analysts Set Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Target Price at $24.75

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.00.

Several research firms have weighed in on UNCY. HC Wainwright decreased their price target on shares of Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday. Benchmark reiterated a “speculative buy” rating and issued a $18.00 price target (up from $15.00) on shares of Unicycive Therapeutics in a research report on Tuesday, June 2nd. B. Riley Financial reiterated a “buy” rating and issued a $22.00 price target on shares of Unicycive Therapeutics in a research report on Tuesday. Weiss Ratings upgraded shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Finally, Guggenheim reiterated a “buy” rating and issued a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday, May 13th.

Unicycive Therapeutics Stock Down 39.1%

Shares of Unicycive Therapeutics stock opened at $4.69 on Wednesday. The company has a market cap of $128.46 million, a price-to-earnings ratio of -2.12 and a beta of 1.73. The company’s 50 day moving average is $7.50 and its 200 day moving average is $6.82. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings data 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). Sell-side analysts expect that Unicycive Therapeutics will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP bought a new position in Unicycive Therapeutics in the first quarter worth approximately $367,000. Bank of America Corp DE raised its position in 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 worth $194,000 after acquiring an additional 29,378 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Unicycive Therapeutics during the 1st quarter valued at $161,000. Dimensional Fund Advisors LP bought a new stake in shares of Unicycive Therapeutics during the 1st quarter valued at $940,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Unicycive Therapeutics during the 4th quarter valued at $226,000. 40.42% of the stock is currently owned by institutional investors.

Trending Headlines about Unicycive Therapeutics

Here are the key news stories impacting Unicycive Therapeutics this week:

• Negative Sentiment: The FDA declined to approve OLC because of unresolved third-party manufacturing deficiencies, and it said the inspection of the outside manufacturing facility did not occur during the review. The agency did not raise new concerns about efficacy or safety, but the decision pushes back any potential approval timeline. Article Title
• Negative Sentiment: Multiple reports say the stock had its worst day in a year as investors reacted to the FDA setback, with some coverage estimating a multi-month delay before another approval attempt could happen. Article Title
• Negative Sentiment: HC Wainwright cut its price target on UNCY from $22 to $15, even while keeping a buy rating, reflecting lower near-term confidence after the regulatory delay. Article Title
• Negative Sentiment: Johnson Fistel said it is investigating Unicycive on behalf of investors, adding another overhang as shareholders face losses tied to the FDA rejection. Article Title
• Neutral Sentiment: There was also unusual call-option activity ahead of the news, which may reflect speculation but does not change the fundamental regulatory setback.

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.