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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) has earned an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $34.3333.

Several research analysts recently commented on UNCY shares. Guggenheim reaffirmed a “buy” rating on shares of Unicycive Therapeutics in a research note on Tuesday, December 30th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price (up from $9.00) on shares of Unicycive Therapeutics in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Monday, December 29th. Wall Street Zen raised Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Westpark Capital began coverage on Unicycive Therapeutics in a report on Thursday. They set a “buy” rating on the stock.

Unicycive Therapeutics Stock Up 2.4%

UNCY stock opened at $6.37 on Thursday. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $11.00. The firm has a market cap of $136.89 million, a price-to-earnings ratio of -1.61 and a beta of 1.85. The business’s fifty day simple moving average is $6.20 and its two-hundred day simple moving average is $5.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new stake in shares of Unicycive Therapeutics during the 2nd quarter valued at $55,000. JPMorgan Chase & Co. raised its stake in Unicycive Therapeutics by 11,698.4% in the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock valued at $104,000 after buying an additional 21,525 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Unicycive Therapeutics in the third quarter valued at about $182,000. Quadrature Capital Ltd acquired a new stake in Unicycive Therapeutics in the fourth quarter worth about $226,000. Finally, State Street Corp grew its stake 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 acquiring an additional 10,400 shares during the last quarter. Hedge funds and other institutional investors own 40.42% of the company’s stock.

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.