Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Receives $21.75 Consensus Price Target from Analysts

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have received a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $21.75.

UNCY has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and set a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a report on Wednesday, May 13th. B. Riley Financial reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Unicycive Therapeutics in a report on Tuesday, June 30th. Benchmark dropped their target price on Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating on the stock in a research report on Wednesday, July 1st. Wall Street Zen downgraded Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Zacks Research cut Unicycive Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in Unicycive Therapeutics in the second quarter valued at $55,000. JPMorgan Chase & Co. grew its stake in shares of Unicycive Therapeutics by 11,698.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock worth $104,000 after purchasing an additional 21,525 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Unicycive Therapeutics during the 1st quarter worth $161,000. Citadel Advisors LLC purchased a new position in shares of Unicycive Therapeutics in the 3rd quarter valued at about $182,000. Finally, Bank of America Corp DE increased its holdings in shares of 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 valued at $194,000 after purchasing an additional 29,378 shares in the last quarter. Hedge funds and other institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Stock Performance

UNCY opened at $5.40 on Friday. Unicycive Therapeutics has a one year low of $3.71 and a one year high of $8.74. The company has a market cap of $147.91 million, a P/E ratio of -2.44 and a beta of 1.79. The business’s 50-day simple moving average is $6.64 and its 200-day simple moving average is $6.76.

Unicycive Therapeutics (NASDAQ:UNCY) last issued 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). As a group, analysts predict that Unicycive Therapeutics will post -1.49 earnings per share for the current fiscal 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.