Unicycive Therapeutics (NASDAQ:UNCY) Trading 1% Higher – Should You Buy?

Unicycive Therapeutics, Inc. (NASDAQ:UNCY)’s share price was up 1% on Friday . The stock traded as high as $6.35 and last traded at $6.18. Approximately 388,927 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 328,233 shares. The stock had previously closed at $6.12.

Analysts Set New Price Targets

Several equities research analysts have commented on UNCY shares. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target (up from $9.00) on shares of Unicycive Therapeutics in a research report on Wednesday, October 29th. Benchmark lifted 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 reissued a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Unicycive Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Finally, Guggenheim restated a “buy” rating on shares of Unicycive Therapeutics in a research report on Tuesday, December 30th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.33.

Unicycive Therapeutics Price Performance

The firm’s fifty day simple moving average is $5.71 and its 200 day simple moving average is $4.95. The company has a market capitalization of $132.81 million, a price-to-earnings ratio of -1.56 and a beta of 1.85.

Unicycive Therapeutics (NASDAQ:UNCY) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.20. Equities research analysts forecast that Unicycive Therapeutics, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new position in Unicycive Therapeutics during the second quarter valued at $55,000. JPMorgan Chase & Co. grew its stake in Unicycive Therapeutics by 11,698.4% during 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 in the last quarter. Citadel Advisors LLC acquired a new position in shares of Unicycive Therapeutics in the 3rd quarter valued at about $182,000. Squarepoint Ops LLC acquired a new position in shares of Unicycive Therapeutics in the 3rd quarter valued at about $512,000. Finally, Vanguard Group Inc. lifted its position in shares of Unicycive Therapeutics by 8.7% in the third 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. Institutional investors and hedge funds 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.