Unicycive Therapeutics’ (UNCY) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Unicycive Therapeutics (NASDAQ:UNCY) in a report published on Tuesday morning, Benzinga reports. They currently have a $4.50 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler initiated coverage on Unicycive Therapeutics in a research note on Thursday, April 4th. They set an overweight rating and a $9.00 target price on the stock. Benchmark reissued a speculative buy rating and set a $3.00 target price on shares of Unicycive Therapeutics in a research note on Friday, May 31st.

Unicycive Therapeutics Price Performance

Shares of Unicycive Therapeutics stock opened at $0.41 on Tuesday. The business’s 50 day simple moving average is $0.90 and its two-hundred day simple moving average is $1.05. The stock has a market capitalization of $15.24 million, a P/E ratio of -0.34 and a beta of 2.54. Unicycive Therapeutics has a one year low of $0.34 and a one year high of $1.82.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.09). Sell-side analysts expect that Unicycive Therapeutics will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Unicycive Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new stake in Unicycive Therapeutics in the third quarter worth $2,985,000. Virtu Financial LLC purchased a new stake in Unicycive Therapeutics in the first quarter worth $36,000. BVF Inc. IL grew its stake in Unicycive Therapeutics by 70.5% in the first quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock worth $4,984,000 after purchasing an additional 1,493,462 shares during the period. Finally, Rosalind Advisors Inc. purchased a new stake in Unicycive Therapeutics in the first quarter worth $2,594,000. 40.42% of the stock is owned by hedge funds and other institutional investors.

Unicycive Therapeutics Company Profile

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.