HC Wainwright Lowers Unicycive Therapeutics (NASDAQ:UNCY) Price Target to $15.00

Unicycive Therapeutics (NASDAQ:UNCY) had its price target dropped by equities research analysts at HC Wainwright from $22.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 218.47% from the stock’s current price.

Several other research firms also recently weighed in on UNCY. Wall Street Zen downgraded shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Benchmark reaffirmed a “speculative buy” rating and set a $18.00 price objective (up from $15.00) on shares of Unicycive Therapeutics in a research note on Tuesday, June 2nd. Guggenheim reissued a “buy” rating and set a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday, May 13th. B. Riley Financial reissued a “buy” rating and issued a $22.00 price objective on shares of Unicycive Therapeutics in a research report on Tuesday. Finally, Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Unicycive Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Unicycive Therapeutics Stock Performance

Shares of NASDAQ:UNCY traded down $2.99 during trading hours on Tuesday, reaching $4.71. The stock had a trading volume of 15,800,906 shares, compared to its average volume of 849,155. The stock has a market capitalization of $129.02 million, a price-to-earnings ratio of -2.12 and a beta of 1.74. The firm’s 50 day moving average is $7.55 and its 200-day moving average is $6.84. Unicycive Therapeutics has a 1 year low of $3.71 and a 1 year high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). Analysts forecast that Unicycive Therapeutics will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC bought a new position in Unicycive Therapeutics in the 4th quarter worth $5,856,000. Vivo Capital LLC raised its holdings in shares of Unicycive Therapeutics by 57.4% in the 3rd quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock worth $7,804,000 after buying an additional 652,901 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Unicycive Therapeutics in the 4th quarter valued at $1,154,000. Dimensional Fund Advisors LP acquired a new stake in shares of Unicycive Therapeutics during the first quarter worth approximately $940,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Unicycive Therapeutics in the third quarter valued at $512,000. 40.42% of the stock is 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.