Benchmark Issues Pessimistic Forecast for Unicycive Therapeutics (NASDAQ:UNCY) Stock Price
by Kim Johansen · The Markets DailyUnicycive Therapeutics (NASDAQ:UNCY – Get Free Report) had its price target decreased by equities research analysts at Benchmark from $21.00 to $15.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “speculative buy” rating on the stock. Benchmark’s price target indicates a potential upside of 116.45% from the company’s previous close.
Several other research firms have also commented on UNCY. Guggenheim reduced their price objective on shares of Unicycive Therapeutics from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. Westpark Capital began coverage on Unicycive Therapeutics in a research report on Thursday, February 19th. They set a “buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Unicycive Therapeutics in a report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Unicycive Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $25.67.
View Our Latest Stock Analysis on Unicycive Therapeutics
Unicycive Therapeutics Price Performance
UNCY stock opened at $6.93 on Monday. The company has a market capitalization of $174.91 million, a P/E ratio of -3.19 and a beta of 1.81. The business has a 50-day moving average price of $6.67 and a 200 day moving average price of $5.84. Unicycive Therapeutics has a 1-year low of $3.71 and a 1-year high of $11.00.
Unicycive Therapeutics (NASDAQ:UNCY – Get Free Report) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.36). On average, analysts anticipate that Unicycive Therapeutics will post -0.23 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Unicycive Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in UNCY. Millennium Management LLC acquired a new stake in Unicycive Therapeutics during the fourth quarter valued at $5,856,000. Vivo Capital LLC grew its position in shares of Unicycive Therapeutics by 57.4% in the third quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock valued at $7,804,000 after purchasing an additional 652,901 shares during the period. Vanguard Group Inc. increased its stake in 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 buying an additional 52,925 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Unicycive Therapeutics during the fourth quarter worth approximately $1,154,000. Finally, Geode Capital Management LLC grew its holdings in shares of Unicycive Therapeutics by 36.2% during the fourth quarter. Geode Capital Management LLC now owns 171,290 shares of the company’s stock worth $989,000 after buying an additional 45,563 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.