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

Unicycive Therapeutics (NASDAQ:UNCY) announced its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.41, FiscalAI reports.

Unicycive Therapeutics Price Performance

Shares of Unicycive Therapeutics stock traded down $0.24 during trading on Thursday, hitting $5.15. The stock had a trading volume of 214,747 shares, compared to its average volume of 944,859. The business has a fifty day moving average of $6.01 and a two-hundred day moving average of $6.66. Unicycive Therapeutics has a fifty-two week low of $3.71 and a fifty-two week high of $8.74. The firm has a market cap of $141.06 million, a P/E ratio of -2.34 and a beta of 1.79.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of UNCY. Quadrature Capital Ltd bought a new position in shares of Unicycive Therapeutics during the 4th quarter valued at about $226,000. Millennium Management LLC acquired a new stake in Unicycive Therapeutics during the fourth quarter valued at approximately $5,856,000. Cantor Fitzgerald L. P. bought a new stake in Unicycive Therapeutics during the fourth quarter worth approximately $1,154,000. OMERS ADMINISTRATION Corp bought a new stake in Unicycive Therapeutics during the fourth quarter worth approximately $451,000. Finally, State Street Corp grew its position in Unicycive Therapeutics by 19.0% in the fourth quarter. State Street Corp now owns 65,227 shares of the company’s stock worth $376,000 after buying an additional 10,400 shares during the last quarter. 40.42% of the stock is currently owned by institutional investors.

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.