Unicycive Therapeutics (NASDAQ:UNCY) Trading 1% Higher – Should You Buy?

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) shares shot up 1% during trading on Friday . The company traded as high as $6.35 and last traded at $6.18. 388,927 shares were traded during trading, an increase of 18% from the average session volume of 328,233 shares. The stock had previously closed at $6.12.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price (up previously from $9.00) on shares of Unicycive Therapeutics in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of Unicycive Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Guggenheim reiterated a “buy” rating on shares of Unicycive Therapeutics in a report on Tuesday, December 30th. Benchmark lifted their price objective on Unicycive Therapeutics to $21.00 and gave the company a “speculative buy” rating in a research report on Monday, September 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.33.

Unicycive Therapeutics Price Performance

The stock has a market capitalization of $132.81 million, a price-to-earnings ratio of -1.56 and a beta of 1.85. The stock’s 50 day simple moving average is $5.71 and its 200-day simple moving average is $4.95.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.20. As a group, equities research analysts anticipate that Unicycive Therapeutics, Inc. will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Unicycive Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new stake in shares of Unicycive Therapeutics during the 2nd quarter worth about $55,000. JPMorgan Chase & Co. lifted its holdings in Unicycive Therapeutics by 11,698.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock worth $104,000 after purchasing an additional 21,525 shares during the last quarter. Citadel Advisors LLC bought a new stake in Unicycive Therapeutics during the third quarter worth approximately $182,000. Vanguard Group Inc. boosted its position in Unicycive Therapeutics by 8.7% during the third quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock worth $2,873,000 after purchasing an additional 52,925 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Unicycive Therapeutics during the third quarter valued at approximately $512,000. 40.42% of the stock is currently owned by institutional investors.

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.