Unicycive Therapeutics (NASDAQ:UNCY) Releases Quarterly Earnings Results, Beats Estimates By $0.41 EPS

Unicycive Therapeutics (NASDAQ:UNCY) 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 Stock Up 0.2%

Shares of NASDAQ:UNCY traded up $0.01 during trading on Friday, reaching $5.41. 174,956 shares of the company traded hands, compared to its average volume of 944,685. The firm has a market capitalization of $148.18 million, a PE ratio of -3.09 and a beta of 1.79. The company’s 50 day moving average is $5.97 and its two-hundred day moving average is $6.65. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in Unicycive Therapeutics in the second quarter valued at about $55,000. JPMorgan Chase & Co. increased its position in Unicycive Therapeutics by 11,698.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock valued at $104,000 after acquiring an additional 21,525 shares during the period. Citadel Advisors LLC bought a new position in shares of Unicycive Therapeutics during the third quarter valued at $182,000. Quadrature Capital Ltd bought a new position in shares of Unicycive Therapeutics during the fourth quarter valued at $226,000. Finally, State Street Corp lifted its holdings in shares of 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. Institutional investors own 40.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on UNCY. Zacks Research lowered shares of Unicycive Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Benchmark reduced their price target on Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating on the stock in a research report on Wednesday, July 1st. B. Riley Financial reiterated a “buy” rating and issued a $20.00 price objective (down from $22.00) on shares of Unicycive Therapeutics in a report on Wednesday. Finally, Guggenheim restated a “buy” rating and set a $25.00 target price (down from $37.00) on shares of Unicycive Therapeutics in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Unicycive Therapeutics has a consensus rating of “Hold” and a consensus target price of $18.25.

Unicycive Therapeutics Company Profile

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.