Unicycive Therapeutics (NASDAQ:UNCY) Stock Rating Upgraded by Zacks Research

Unicycive Therapeutics (NASDAQ:UNCY) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Guggenheim restated a “buy” rating and issued a $25.00 price target (down from $37.00) on shares of Unicycive Therapeutics in a research note on Thursday, August 13th. Wall Street Zen upgraded shares of Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. B. Riley Financial reiterated a “buy” rating and set a $20.00 price objective (down from $22.00) on shares of Unicycive Therapeutics in a research note on Wednesday, August 12th. Finally, HC Wainwright decreased their price objective on shares of Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Unicycive Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.75.

Unicycive Therapeutics Price Performance

Shares of UNCY stock opened at $5.45 on Wednesday. The company’s fifty day moving average price is $5.80 and its two-hundred day moving average price is $6.61. The firm has a market capitalization of $151.78 million, a P/E ratio of -3.11 and a beta of 1.79. Unicycive Therapeutics has a 12 month low of $3.71 and a 12 month high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.41. On average, sell-side analysts anticipate that Unicycive Therapeutics will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in UNCY. Lazard Asset Management LLC acquired a new position in shares of Unicycive Therapeutics in the 2nd quarter worth approximately $55,000. JPMorgan Chase & Co. raised its position 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 valued at $104,000 after acquiring an additional 21,525 shares in the last quarter. Renaissance Technologies LLC bought a new position in Unicycive Therapeutics during the first quarter worth $161,000. Bank of America Corp DE lifted its stake 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 last quarter. Finally, Quadrature Capital Ltd acquired a new position in Unicycive Therapeutics in the fourth quarter worth $226,000. Institutional investors and hedge funds own 40.42% of the company’s stock.

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.