Unicycive Therapeutics (NASDAQ:UNCY) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Unicycive Therapeutics (NASDAQ:UNCY) released its quarterly earnings results on Wednesday. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.20, Zacks reports.

Unicycive Therapeutics Stock Performance

Shares of NASDAQ UNCY traded up $0.19 during mid-day trading on Thursday, reaching $5.33. The company had a trading volume of 512,419 shares, compared to its average volume of 394,785. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $11.00. The stock’s 50 day moving average is $4.49 and its 200-day moving average is $5.09. The stock has a market capitalization of $94.13 million, a PE ratio of -1.29 and a beta of 1.87.

Wall Street Analyst Weigh In

A number of analysts have commented on UNCY shares. Wall Street Zen raised shares of Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Benchmark raised their price objective on shares of Unicycive Therapeutics to $21.00 and gave the stock a “speculative buy” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Unicycive Therapeutics in a research report on Thursday, October 30th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 target price (up from $9.00) on shares of Unicycive Therapeutics in a research note on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.33.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Unicycive Therapeutics by 8.7% during 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 in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Unicycive Therapeutics in the 2nd quarter valued at approximately $55,000. Finally, JPMorgan Chase & Co. increased its holdings in Unicycive Therapeutics by 11,698.4% in the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock worth $104,000 after buying an additional 21,525 shares during the last quarter. 40.42% of the stock is owned by institutional investors and hedge funds.

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.