Unicycive Therapeutics, Inc. (NASDAQ:UNCY – Get Free Report) saw some unusual options trading activity on Tuesday. Traders bought 2,298 call options on the company. This is an increase of approximately 300% compared to the typical volume of 575 call options.
Key Headlines Impacting Unicycive Therapeutics
Here are the key news stories impacting Unicycive Therapeutics this week:
- Positive Sentiment: The FDA did not request new clinical or safety data for OLC, which suggests the underlying drug data remain acceptable. Article Title
- Neutral Sentiment: Benchmark, Noble Financial, and HC Wainwright all lowered price targets, but each kept a bullish rating, indicating analysts still see long-term upside despite the setback. Article Title
- Neutral Sentiment: Shares saw unusually heavy options activity, with traders buying far more call options than normal, showing elevated speculative interest.
- Negative Sentiment: The FDA’s second CRL extends uncertainty around OLC approval and points to unresolved manufacturing issues at a third-party vendor. Article Title
- Negative Sentiment: Multiple law firms launched securities-fraud investigations after the FDA rejection, adding legal overhang and investor uncertainty. Article Title
Unicycive Therapeutics Stock Up 12.6%
Unicycive Therapeutics stock opened at $5.28 on Thursday. The stock has a 50-day moving average price of $7.46 and a 200 day moving average price of $6.82. The company has a market capitalization of $144.62 million, a price-to-earnings ratio of -2.39 and a beta of 1.80. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vivo Capital LLC boosted its holdings in Unicycive Therapeutics by 57.4% in the third quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock valued at $7,804,000 after purchasing an additional 652,901 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Unicycive Therapeutics in the 4th quarter valued at about $5,856,000. Vanguard Group Inc. boosted its stake in shares of Unicycive Therapeutics by 8.7% in the third quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock worth $2,873,000 after buying an additional 52,925 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Unicycive Therapeutics in the fourth quarter worth about $1,154,000. Finally, Geode Capital Management LLC grew its holdings in Unicycive Therapeutics by 36.2% during the fourth quarter. Geode Capital Management LLC now owns 171,290 shares of the company’s stock worth $989,000 after acquiring an additional 45,563 shares during the period. 40.42% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on UNCY shares. B. Riley Financial reaffirmed a “buy” rating and set a $22.00 price target on shares of Unicycive Therapeutics in a research report on Tuesday. Noble Financial lowered their price objective on Unicycive Therapeutics from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday. Benchmark dropped their target price on Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating on the stock in a research note on Wednesday. Wall Street Zen lowered Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, HC Wainwright decreased their price target on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday. Six 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.40.
View Our Latest Report on UNCY
About Unicycive Therapeutics
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.
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