Unicycive Therapeutics (NASDAQ:UNCY) Downgraded to Strong Sell Rating by Zacks Research

Unicycive Therapeutics (NASDAQ:UNCY) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on UNCY. B. Riley Financial reiterated a “buy” rating and issued a $22.00 price objective on shares of Unicycive Therapeutics in a research note on Tuesday, June 30th. Guggenheim reaffirmed a “buy” rating and issued a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a research note on Wednesday, May 13th. Wall Street Zen cut Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Benchmark dropped their price objective on Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating for the company in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.75.

Unicycive Therapeutics Stock Performance

Shares of Unicycive Therapeutics stock opened at $5.57 on Tuesday. The firm’s 50-day simple moving average is $6.76 and its 200-day simple moving average is $6.77. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $8.74. The firm has a market cap of $152.56 million, a P/E ratio of -2.52 and a beta of 1.79.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.08). On average, equities analysts forecast that Unicycive Therapeutics will post -1.49 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 business. Lazard Asset Management LLC acquired a new position in Unicycive Therapeutics in the second quarter worth $55,000. JPMorgan Chase & Co. raised its holdings in shares of Unicycive Therapeutics by 11,698.4% in the second 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 last quarter. Renaissance Technologies LLC bought a new position in shares of Unicycive Therapeutics in the first quarter valued at about $161,000. Citadel Advisors LLC acquired a new position in Unicycive Therapeutics during the 3rd quarter worth about $182,000. Finally, Bank of America Corp DE lifted its position in Unicycive Therapeutics by 19,327.6% during the 1st quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock worth $194,000 after buying an additional 29,378 shares in the last quarter. Institutional investors 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.