Unicycive Therapeutics (NASDAQ:UNCY) Releases Earnings Results, Misses Estimates By $0.08 EPS

Unicycive Therapeutics (NASDAQ:UNCY) announced its earnings results on Tuesday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08), FiscalAI reports.

Unicycive Therapeutics Price Performance

Shares of NASDAQ:UNCY traded up $0.02 during midday trading on Tuesday, hitting $7.97. The company had a trading volume of 85,674 shares, compared to its average volume of 549,976. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $11.00. The stock has a market cap of $212.80 million, a price-to-earnings ratio of -3.67 and a beta of 1.78. The business’s 50-day simple moving average is $7.01 and its 200-day simple moving average is $6.31.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. B. Riley Financial started coverage on Unicycive Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $22.00 target price for the company. Benchmark lowered their target price on Unicycive Therapeutics from $21.00 to $15.00 and set a “speculative buy” rating on the stock in a research note on Monday, April 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. Westpark Capital started coverage on Unicycive Therapeutics in a research note on Thursday, February 19th. They issued a “buy” rating on the stock. Finally, Guggenheim lowered their target price on Unicycive Therapeutics from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.75.

Institutional Investors Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings 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 purchasing an additional 10,400 shares during the period. Lazard Asset Management LLC acquired a new position in Unicycive Therapeutics during the 2nd quarter worth approximately $55,000. JPMorgan Chase & Co. increased 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 purchasing an additional 21,525 shares during the period. Quadrature Capital Ltd acquired a new position in Unicycive Therapeutics during the 4th quarter worth approximately $226,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Unicycive Therapeutics during the 3rd quarter worth approximately $182,000. Institutional investors and hedge funds own 40.42% of the company’s stock.

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.