Unicycive Therapeutics (NASDAQ:UNCY) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Unicycive Therapeutics (NASDAQ:UNCY) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other analysts also recently issued reports about the stock. Weiss Ratings raised shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 9th. Guggenheim reiterated 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. Wall Street Zen lowered Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. B. Riley Financial reissued a “buy” rating and issued a $22.00 price objective on shares of Unicycive Therapeutics in a research note on Tuesday, June 30th. Finally, HC Wainwright decreased their price objective on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.75.

Unicycive Therapeutics Stock Down 2.1%

NASDAQ:UNCY opened at $5.57 on Tuesday. The stock has a fifty day simple moving average of $6.76 and a 200 day simple moving average of $6.77. The firm has a market capitalization of $152.56 million, a price-to-earnings ratio of -2.52 and a beta of 1.79. Unicycive Therapeutics has a 1-year low of $3.71 and a 1-year high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its earnings results on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08). Equities analysts predict that Unicycive Therapeutics will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of institutional investors have recently modified their holdings of UNCY. Lazard Asset Management LLC bought a new stake in shares of Unicycive Therapeutics during the 2nd quarter worth $55,000. JPMorgan Chase & Co. lifted its position in 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 acquiring an additional 21,525 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Unicycive Therapeutics during the first quarter valued at about $161,000. Citadel Advisors LLC acquired a new stake in shares of Unicycive Therapeutics in the third quarter valued at about $182,000. Finally, Bank of America Corp DE increased its stake in shares of Unicycive Therapeutics by 19,327.6% in 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.

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.