Unicycive Therapeutics (NASDAQ:UNCY) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Unicycive Therapeutics (NASDAQ:UNCY) issued its quarterly earnings results on Thursday. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02, reports.

Unicycive Therapeutics Stock Down 5.5 %

Shares of UNCY stock opened at $1.38 on Friday. The company’s 50-day simple moving average is $1.30 and its 200-day simple moving average is $0.91. Unicycive Therapeutics has a one year low of $0.47 and a one year high of $2.29.

Analyst Ratings Changes

UNCY has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $4.50 price target on shares of Unicycive Therapeutics in a research note on Thursday, March 14th. Benchmark reissued a “speculative buy” rating and set a $3.00 price objective on shares of Unicycive Therapeutics in a research note on Monday, December 4th. Finally, Noble Financial began coverage on shares of Unicycive Therapeutics in a report on Wednesday, February 14th. They issued an “outperform” rating and a $6.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $8.30.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of institutional investors have recently modified their holdings of UNCY. Two Sigma Advisers LP acquired a new position in Unicycive Therapeutics in the first quarter valued at approximately $31,000. Ground Swell Capital LLC bought a new position in shares of Unicycive Therapeutics during the second quarter worth about $26,000. State Street Corp acquired a new stake in shares of Unicycive Therapeutics in the 1st quarter worth about $74,000. Citadel Advisors LLC bought a new stake in Unicycive Therapeutics in the 4th quarter valued at about $31,000. Finally, Geode Capital Management LLC boosted its stake in Unicycive Therapeutics by 267.3% during the 1st quarter. Geode Capital Management LLC now owns 95,898 shares of the company’s stock valued at $201,000 after purchasing an additional 69,789 shares during the period. Institutional investors 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.