Zacks Research Upgrades Unicycive Therapeutics (NASDAQ:UNCY) to Hold

Unicycive Therapeutics (NASDAQ:UNCY) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

UNCY has been the subject of several other reports. Weiss Ratings raised shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. B. Riley Financial reiterated a “buy” rating and set a $20.00 price objective (down from $22.00) on shares of Unicycive Therapeutics in a research note on Wednesday, August 12th. HC Wainwright cut their price target on shares of Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Benchmark reissued a “speculative buy” rating and issued a $15.00 price objective (up from $13.00) on shares of Unicycive Therapeutics in a research report on Thursday. Finally, Wall Street Zen upgraded Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.75.

Unicycive Therapeutics Stock Down 2.3%

Shares of UNCY opened at $5.45 on Wednesday. Unicycive Therapeutics has a 52-week low of $3.71 and a 52-week high of $8.74. The business has a fifty day moving average of $5.80 and a 200 day moving average of $6.61. The company has a market cap of $151.78 million, a PE ratio of -3.11 and a beta of 1.79.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its earnings results on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.41. As a group, research analysts anticipate that Unicycive Therapeutics will post -1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake 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. Lazard Asset Management LLC purchased a new stake in shares of Unicycive Therapeutics during the second quarter valued at $55,000. Vanguard Group Inc. increased its position in shares of Unicycive Therapeutics by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock valued at $2,873,000 after acquiring an additional 52,925 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Unicycive Therapeutics in the 3rd quarter valued at $512,000. Finally, Citadel Advisors LLC purchased a new position in Unicycive Therapeutics in the 3rd quarter worth $182,000. Hedge funds and other institutional investors own 40.42% of the company’s stock.

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.