Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $24.75.

A number of brokerages have recently issued reports on UNCY. Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 9th. Wall Street Zen raised Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of Unicycive Therapeutics in a research note on Wednesday, May 27th. Guggenheim reissued a “buy” rating and set a $37.00 target price (down from $40.00) on shares of Unicycive Therapeutics in a research note on Wednesday, May 13th. Finally, Benchmark reissued a “speculative buy” rating and set a $18.00 target price (up from $15.00) on shares of Unicycive Therapeutics in a research note on Tuesday, June 2nd.

Hedge Funds Weigh In On Unicycive Therapeutics

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in Unicycive Therapeutics in the 2nd quarter valued at approximately $55,000. JPMorgan Chase & Co. increased 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 in the last quarter. Renaissance Technologies LLC purchased a new position in Unicycive Therapeutics in the 1st quarter valued at approximately $161,000. 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 valued at $194,000 after purchasing an additional 29,378 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Unicycive Therapeutics in the 4th quarter valued at approximately $226,000. 40.42% of the stock is owned by hedge funds and other institutional investors.

Unicycive Therapeutics Stock Up 1.9%

Shares of NASDAQ:UNCY opened at $8.02 on Wednesday. The company has a market cap of $219.67 million, a P/E ratio of -3.63 and a beta of 1.73. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74. The company has a 50-day moving average price of $7.48 and a 200 day moving average price of $6.80.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). Analysts expect that Unicycive Therapeutics will post -0.32 EPS for the current 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.