Benchmark Reaffirms “Speculative Buy” Rating for Unicycive Therapeutics (NASDAQ:UNCY)

Benchmark restated their speculative buy rating on shares of Unicycive Therapeutics (NASDAQ:UNCY) in a research report report published on Friday,Benzinga reports. Benchmark currently has a $3.00 price target on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 price target on shares of Unicycive Therapeutics in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $5.13.

Unicycive Therapeutics Price Performance

Shares of NASDAQ UNCY opened at $0.55 on Friday. The stock has a market cap of $57.36 million, a PE ratio of -0.57 and a beta of 2.29. Unicycive Therapeutics has a 1 year low of $0.20 and a 1 year high of $1.82. The firm has a fifty day moving average price of $0.45 and a 200-day moving average price of $0.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Great Point Partners LLC purchased a new stake in Unicycive Therapeutics during the third quarter valued at $3,491,000. Walleye Capital LLC purchased a new stake in shares of Unicycive Therapeutics during the 3rd quarter valued at about $2,040,000. BVF Inc. IL lifted its holdings in shares of Unicycive Therapeutics by 70.5% in the 1st quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock valued at $4,984,000 after acquiring an additional 1,493,462 shares during the last quarter. Acuta Capital Partners LLC purchased a new position in Unicycive Therapeutics in the third quarter worth about $807,000. Finally, Bleakley Financial Group LLC bought a new stake in Unicycive Therapeutics during the third quarter worth approximately $33,000. 40.42% of the stock is currently owned by 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.