Unicycive Therapeutics (NASDAQ:UNCY) Price Target Cut to $13.00 by Analysts at Benchmark

Unicycive Therapeutics (NASDAQ:UNCYGet Free Report) had its target price dropped by equities researchers at Benchmark from $18.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “speculative buy” rating on the stock. Benchmark’s price target points to a potential upside of 161.99% from the company’s current price.

UNCY has been the topic of a number of other reports. Guggenheim reaffirmed a “buy” rating and issued a $37.00 price objective (down from $40.00) on shares of Unicycive Therapeutics in a research note on Wednesday, May 13th. Noble Financial dropped their target price on shares of Unicycive Therapeutics from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday. HC Wainwright cut their price target on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. Weiss Ratings upgraded Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen cut Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Unicycive Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $27.40.

Check Out Our Latest Research Report on UNCY

Unicycive Therapeutics Stock Performance

Unicycive Therapeutics stock traded up $0.27 during trading hours on Wednesday, reaching $4.96. 2,291,358 shares of the company’s stock traded hands, compared to its average volume of 896,583. Unicycive Therapeutics has a fifty-two week low of $3.71 and a fifty-two week high of $8.74. The firm has a market capitalization of $135.91 million, a price-to-earnings ratio of -2.24 and a beta of 1.73. The firm’s 50 day moving average is $7.50 and its 200-day moving average is $6.82.

Unicycive Therapeutics (NASDAQ:UNCYGet Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08). Analysts predict that Unicycive Therapeutics will post -0.32 EPS for the current year.

Institutional Trading of Unicycive Therapeutics

Several hedge funds have recently added to or reduced their stakes in UNCY. Lazard Asset Management LLC acquired a new position in Unicycive Therapeutics in the second quarter valued at about $55,000. 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 purchasing an additional 21,525 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Unicycive Therapeutics during the first quarter worth about $161,000. Bank of America Corp DE lifted its holdings in shares of 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 valued at $194,000 after purchasing an additional 29,378 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Unicycive Therapeutics in the 4th quarter valued at approximately $226,000. Institutional investors and hedge funds own 40.42% of the company’s stock.

Key Unicycive Therapeutics News

Here are the key news stories impacting Unicycive Therapeutics this week:

  • Neutral Sentiment: Noble Financial lowered its price target on UNCY to $50 from $60 but kept an outperform rating, signaling the FDA delay may be temporary rather than a thesis-breaker. Benzinga
  • Neutral Sentiment: HC Wainwright also cut its target, to $15 from $22, while maintaining a buy rating, reflecting reduced near-term visibility but continued longer-term optimism. Benzinga
  • Neutral Sentiment: Trading saw unusually heavy call option activity ahead of the FDA decision, suggesting some investors were positioning for a positive catalyst.
  • Negative Sentiment: Block & Leviton and Johnson Fistel both announced investigations into Unicycive over possible securities fraud and investor losses following the FDA action, adding legal overhang. Article Title

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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Analyst Recommendations for Unicycive Therapeutics (NASDAQ:UNCY)

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