Unicycive Therapeutics (NASDAQ:UNCY) Announces Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Unicycive Therapeutics (NASDAQ:UNCY) released its quarterly earnings results on Monday. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.36), FiscalAI reports.

Unicycive Therapeutics Trading Up 7.7%

Shares of Unicycive Therapeutics stock opened at $6.58 on Wednesday. The business’s fifty day simple moving average is $6.66 and its 200 day simple moving average is $5.77. Unicycive Therapeutics has a 12 month low of $3.71 and a 12 month high of $11.00. The firm has a market capitalization of $141.40 million, a P/E ratio of -3.03 and a beta of 1.82.

Institutional Investors Weigh In On Unicycive Therapeutics

Several large investors have recently made changes to their positions in UNCY. Lazard Asset Management LLC purchased a new position in shares of Unicycive Therapeutics in the 2nd quarter worth about $55,000. JPMorgan Chase & Co. increased its holdings in Unicycive Therapeutics by 11,698.4% during the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock worth $104,000 after buying an additional 21,525 shares during the last quarter. Citadel Advisors LLC bought a new stake in Unicycive Therapeutics in the third quarter worth about $182,000. Quadrature Capital Ltd purchased a new position in Unicycive Therapeutics in the fourth quarter valued at about $226,000. Finally, State Street Corp boosted its stake in Unicycive Therapeutics by 19.0% in the fourth quarter. State Street Corp now owns 65,227 shares of the company’s stock valued at $376,000 after acquiring an additional 10,400 shares during the last quarter. 40.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UNCY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unicycive Therapeutics in a report on Friday. Guggenheim reiterated a “buy” rating on shares of Unicycive Therapeutics in a report on Tuesday, December 30th. Finally, Westpark Capital initiated coverage on shares of Unicycive Therapeutics in a research report on Thursday, February 19th. They set a “buy” rating on the stock. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

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.