Benchmark Lowers Unicycive Therapeutics (NASDAQ:UNCY) Price Target to $13.00

Unicycive Therapeutics (NASDAQ:UNCY) had its price objective reduced by equities researchers at Benchmark from $18.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “speculative buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 161.99% from the stock’s current price.

Other analysts also recently issued research reports about the company. HC Wainwright dropped their price target on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. B. Riley Financial reiterated a “buy” rating and set a $22.00 price objective on shares of Unicycive Therapeutics in a report on Tuesday. Wall Street Zen lowered Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Noble Financial cut their target price on Unicycive Therapeutics from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Unicycive Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $27.40.

Unicycive Therapeutics Trading Up 5.8%

Shares of UNCY stock traded up $0.27 during trading hours on Wednesday, hitting $4.96. 2,291,358 shares of the company were exchanged, compared to its average volume of 896,583. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74. The business has a 50 day moving average of $7.50 and a two-hundred day moving average of $6.82. The company has a market capitalization of $135.91 million, a PE ratio of -2.24 and a beta of 1.73.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08). On average, research analysts forecast that Unicycive Therapeutics will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Unicycive Therapeutics during the 2nd quarter worth about $55,000. JPMorgan Chase & Co. lifted its stake in 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 during the last quarter. Renaissance Technologies LLC acquired a new stake in Unicycive Therapeutics in the 1st quarter valued at about $161,000. Citadel Advisors LLC bought a new position in Unicycive Therapeutics during the third quarter worth about $182,000. Finally, Bank of America Corp DE grew its holdings in Unicycive Therapeutics by 19,327.6% during the first 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. Institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics News Summary

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

• Neutral Sentiment: Noble Financial lowered its price target on UNCY to $50 from $60 but kept an outperform rating, signaling the FDA delay may be temporary rather than a thesis-breaker. Benzinga
• Neutral Sentiment: HC Wainwright also cut its target, to $15 from $22, while maintaining a buy rating, reflecting reduced near-term visibility but continued longer-term optimism. Benzinga
• Neutral Sentiment: Trading saw unusually heavy call option activity ahead of the FDA decision, suggesting some investors were positioning for a positive catalyst.
• Negative Sentiment: Block & Leviton and Johnson Fistel both announced investigations into Unicycive over possible securities fraud and investor losses following the FDA action, adding legal overhang. Article Title

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.