Unicycive Therapeutics (NASDAQ:UNCY) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Unicycive Therapeutics (NASDAQ:UNCY) released its earnings results on Tuesday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.08), FiscalAI reports.

Unicycive Therapeutics Price Performance

NASDAQ UNCY opened at $8.17 on Wednesday. The stock has a market capitalization of $218.14 million, a PE ratio of -3.76 and a beta of 1.78. The business has a 50 day simple moving average of $7.03 and a two-hundred day simple moving average of $6.33. Unicycive Therapeutics has a 1-year low of $3.71 and a 1-year high of $11.00.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Unicycive Therapeutics by 11,698.4% in the 2nd 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. Lazard Asset Management LLC purchased a new position in shares of Unicycive Therapeutics in the 2nd quarter worth approximately $55,000. Vanguard Group Inc. boosted its holdings 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 worth $2,873,000 after purchasing an additional 52,925 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Unicycive Therapeutics in the 3rd quarter worth approximately $512,000. Finally, Citadel Advisors LLC purchased a new position in shares of Unicycive Therapeutics in the 3rd quarter worth approximately $182,000. Hedge funds and other institutional investors own 40.42% of the company’s stock.

Wall Street Analysts Forecast Growth

UNCY has been the subject of several research analyst reports. Guggenheim reiterated a “buy” rating on shares of Unicycive Therapeutics in a research report on Wednesday. Benchmark cut their target price on Unicycive Therapeutics from $21.00 to $15.00 and set a “speculative buy” rating for the company in a research report on Monday, April 6th. Westpark Capital initiated coverage on Unicycive Therapeutics in a research report on Thursday, February 19th. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research report on Friday, March 27th. Finally, B. Riley Financial initiated coverage on Unicycive Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $22.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.75.

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.