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

Unicycive Therapeutics (NASDAQ:UNCY) announced its earnings results on Tuesday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08), FiscalAI reports.

Unicycive Therapeutics Stock Up 0.8%

NASDAQ:UNCY traded up $0.06 on Thursday, reaching $8.57. 206,206 shares of the company’s stock traded hands, compared to its average volume of 551,323. The stock has a 50-day simple moving average of $7.07 and a 200-day simple moving average of $6.36. Unicycive Therapeutics has a 12 month low of $3.71 and a 12 month high of $11.00. The firm has a market cap of $228.93 million, a PE ratio of -3.84 and a beta of 1.78.

Institutional Trading of Unicycive Therapeutics

Several institutional investors have recently made changes to their positions in the business. Millennium Management LLC purchased a new position in shares of Unicycive Therapeutics in the fourth quarter worth $5,856,000. Cantor Fitzgerald L. P. purchased a new position in Unicycive Therapeutics during the fourth quarter valued at $1,154,000. Geode Capital Management LLC increased its holdings in Unicycive Therapeutics by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 171,290 shares of the company’s stock valued at $989,000 after acquiring an additional 45,563 shares during the last quarter. Vivo Capital LLC lifted its stake in Unicycive Therapeutics by 57.4% in the 3rd quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock worth $7,804,000 after purchasing an additional 652,901 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Unicycive Therapeutics in the 3rd quarter worth $512,000. Hedge funds and other institutional investors own 40.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Guggenheim restated a “buy” rating and issued a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday. 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 price objective on the stock. Westpark Capital started coverage on shares of Unicycive Therapeutics in a report on Thursday, February 19th. They issued a “buy” rating for the company. Wall Street Zen cut shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Benchmark lowered their price target on shares of Unicycive Therapeutics from $21.00 to $15.00 and set a “speculative buy” rating on the stock in a report on Monday, April 6th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.