Unicycive Therapeutics (NASDAQ:UNCY) Announces Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Unicycive Therapeutics (NASDAQ:UNCY) announced its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.29, FiscalAI reports.

Unicycive Therapeutics Stock Up 7.7%

NASDAQ:UNCY traded up $0.37 during mid-day trading on Wednesday, reaching $5.16. 905,229 shares of the company were exchanged, compared to its average volume of 392,949. The stock has a market cap of $91.13 million, a PE ratio of -1.26 and a beta of 1.87. Unicycive Therapeutics has a 12 month low of $3.71 and a 12 month high of $11.00. The company has a fifty day moving average of $4.47 and a 200 day moving average of $5.09.

Analyst Upgrades and Downgrades

UNCY has been the topic of a number of analyst reports. Wall Street Zen raised shares of Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Unicycive Therapeutics in a research note on Thursday, October 30th. Benchmark raised their target price on Unicycive Therapeutics to $21.00 and gave the stock a “speculative buy” rating in a research report on Monday, September 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price target (up from $9.00) on shares of Unicycive Therapeutics in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

Institutional Trading of Unicycive Therapeutics

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Unicycive Therapeutics by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock worth $2,873,000 after purchasing an additional 52,925 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Unicycive Therapeutics in the 2nd quarter valued at $55,000. Finally, JPMorgan Chase & Co. raised its position in shares of 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 acquiring an additional 21,525 shares during the last quarter. 40.42% of the stock is owned by institutional investors.

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.