Unicycive Therapeutics (NASDAQ:UNCY) Earns Buy Rating from HC Wainwright

Unicycive Therapeutics (NASDAQ:UNCY)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $4.50 target price on the stock.

Several other brokerages have also recently issued reports on UNCY. Piper Sandler initiated coverage on Unicycive Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating and a $9.00 price objective for the company. Benchmark restated a “speculative buy” rating and issued a $3.00 price objective on shares of Unicycive Therapeutics in a research note on Friday, May 31st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $5.63.

Unicycive Therapeutics Stock Performance

Unicycive Therapeutics stock opened at $0.48 on Wednesday. The stock has a 50-day moving average of $0.78 and a two-hundred day moving average of $1.04. Unicycive Therapeutics has a one year low of $0.34 and a one year high of $1.82. The stock has a market cap of $18.05 million, a PE ratio of -0.40 and a beta of 2.39.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.09). As a group, sell-side analysts predict that Unicycive Therapeutics will post -0.82 EPS for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BVF Inc. IL grew its holdings in Unicycive Therapeutics by 70.5% during the first quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock worth $4,984,000 after acquiring an additional 1,493,462 shares during the period. Rosalind Advisors Inc. acquired a new stake in Unicycive Therapeutics during the first quarter worth about $2,594,000. Finally, Virtu Financial LLC acquired a new stake in Unicycive Therapeutics during the first quarter worth about $36,000. 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.