Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Receives Average Rating of “Moderate Buy” from Analysts

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) has been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $18.25.

Several research analysts recently commented on UNCY shares. Guggenheim reiterated a “buy” rating and issued a $25.00 target price (down from $37.00) on shares of Unicycive Therapeutics in a report on Thursday, August 13th. Zacks Research upgraded shares of Unicycive Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Wall Street Zen raised Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Friday, September 4th. Finally, Benchmark reiterated a “speculative buy” rating and issued a $15.00 price objective (up from $13.00) on shares of Unicycive Therapeutics in a research note on Thursday, August 20th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP boosted its position in shares of Unicycive Therapeutics by 85.6% in the second quarter. Seven Fleet Capital Management LP now owns 103,400 shares of the company’s stock valued at $521,000 after acquiring an additional 47,700 shares during the period. Bank of New York Mellon Corp bought a new position in Unicycive Therapeutics during the second quarter worth $248,000. Bank of America Corp DE increased its position in Unicycive Therapeutics by 19,327.6% during the first quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock worth $194,000 after acquiring an additional 29,378 shares during the period. Renaissance Technologies LLC acquired a new position in Unicycive Therapeutics during the 1st quarter valued at $161,000. Finally, Dimensional Fund Advisors LP acquired a new position in Unicycive Therapeutics during the 1st quarter valued at $940,000. 40.42% of the stock is owned by institutional investors.

Unicycive Therapeutics Stock Performance

UNCY opened at $4.07 on Friday. The firm has a market cap of $113.35 million, a P/E ratio of -2.33 and a beta of 1.83. The business has a 50 day moving average price of $5.02 and a 200 day moving average price of $6.18. Unicycive Therapeutics has a twelve month low of $3.93 and a twelve month high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41. As a group, analysts anticipate that Unicycive Therapeutics will post -1.16 earnings per share for the current fiscal year.

Unicycive Therapeutics Company Profile

Unicycive Therapeutics, Inc (NASDAQ: UNCY) is a clinical-stage biotechnology company focused on developing treatments for kidney disease. The company’s primary focus is hyperphosphatemia, a condition in which phosphate levels become abnormally high in patients with chronic kidney disease, particularly those receiving dialysis.

Unicycive’s lead product candidate is oxylanthanum carbonate (OLC), an orally administered phosphate binder designed to bind dietary phosphate in the gastrointestinal tract and reduce its absorption into the bloodstream.