Unicycive Therapeutics (NASDAQ:UNCY) Given New $40.00 Price Target at Guggenheim

Unicycive Therapeutics (NASDAQ:UNCY) had its price objective decreased by equities researchers at Guggenheim from $46.00 to $40.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 478.87% from the stock’s current price.

UNCY has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unicycive Therapeutics in a report on Friday, March 27th. Westpark Capital started coverage on Unicycive Therapeutics in a research note on Thursday, February 19th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.67.

Unicycive Therapeutics Price Performance

NASDAQ UNCY traded down $0.21 during trading hours on Thursday, hitting $6.91. 86,346 shares of the company’s stock traded hands, compared to its average volume of 547,814. The company has a market capitalization of $174.41 million, a PE ratio of -3.18 and a beta of 1.81. Unicycive Therapeutics has a 52-week low of $3.71 and a 52-week high of $11.00. The firm’s 50-day moving average is $6.67 and its 200-day moving average is $5.78.

Unicycive Therapeutics (NASDAQ:UNCY) last released its earnings results on Monday, March 30th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.36). Equities research analysts predict that Unicycive Therapeutics will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Unicycive Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its stake in shares of Unicycive Therapeutics by 19.0% in the 4th quarter. State Street Corp now owns 65,227 shares of the company’s stock valued at $376,000 after buying an additional 10,400 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Unicycive Therapeutics during 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 buying an additional 21,525 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Unicycive Therapeutics during the 4th quarter valued at approximately $226,000. Finally, Citadel Advisors LLC acquired a new position in Unicycive Therapeutics in the third quarter valued at approximately $182,000. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Unicycive Therapeutics Company Profile

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.