Unicycive Therapeutics (NASDAQ:UNCY) Posts Quarterly Earnings Results

Unicycive Therapeutics (NASDAQ:UNCY – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.41, FiscalAI reports.

Unicycive Therapeutics Trading Up 7.6%

NASDAQ:UNCY traded up $0.38 during trading hours on Wednesday, hitting $5.38. 1,102,928 shares of the stock were exchanged, compared to its average volume of 947,027. Unicycive Therapeutics has a 52-week low of $3.71 and a 52-week high of $8.74. The company has a market cap of $147.36 million, a P/E ratio of -2.43 and a beta of 1.79. The firm’s fifty day moving average price is $6.04 and its 200 day moving average price is $6.67.

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Hedge Funds Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of UNCY. Lazard Asset Management LLC acquired a new position in Unicycive Therapeutics during the second quarter worth $55,000. JPMorgan Chase & Co. boosted 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 buying an additional 21,525 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Unicycive Therapeutics in the third quarter valued at $182,000. Quadrature Capital Ltd acquired a new position in Unicycive Therapeutics in the 4th quarter valued at about $226,000. Finally, State Street Corp increased its stake in Unicycive Therapeutics by 19.0% during the fourth quarter. State Street Corp now owns 65,227 shares of the company’s stock worth $376,000 after purchasing an additional 10,400 shares during the period. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 9th. Benchmark lowered their target price on shares of 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. B. Riley Financial reiterated a “buy” rating on shares of Unicycive Therapeutics in a report on Wednesday. Zacks Research lowered shares of Unicycive Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded Unicycive Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.75.

Get Our Latest Stock Analysis on UNCY

About Unicycive Therapeutics

(Get Free Report)

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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