Unicycive Therapeutics (NASDAQ:UNCY) Earns “Speculative Buy” Rating from Benchmark

Benchmark reaffirmed their speculative buy rating on shares of Unicycive Therapeutics (NASDAQ:UNCY) in a report issued on Monday morning, Benzinga reports. They currently have a $3.00 price objective on the stock.

Several other research analysts also recently weighed in on UNCY. Piper Sandler began coverage on shares of Unicycive Therapeutics in a research note on Thursday, April 4th. They issued an overweight rating and a $9.00 target price for the company. Noble Financial began coverage on shares of Unicycive Therapeutics in a research note on Wednesday, February 14th. They issued an outperform rating and a $6.00 target price for the company. Finally, HC Wainwright reissued a buy rating and issued a $4.50 target price on shares of Unicycive Therapeutics in a research note on Monday, April 1st.

Unicycive Therapeutics Trading Up 3.1 %

Shares of UNCY stock opened at $1.16 on Monday. The firm has a 50-day moving average price of $1.39 and a 200 day moving average price of $0.96. Unicycive Therapeutics has a twelve month low of $0.47 and a twelve month high of $1.82. The company has a market capitalization of $40.14 million, a price-to-earnings ratio of -0.75 and a beta of 2.66.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its earnings results on Thursday, March 28th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. As a group, research analysts predict that Unicycive Therapeutics will post -0.58 earnings per share for the current year.

Institutional Trading of Unicycive Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new stake in Unicycive Therapeutics in the 4th quarter valued at about $31,000. RA Capital Management L.P. purchased a new stake in shares of Unicycive Therapeutics during the 3rd quarter worth about $2,985,000. Vivo Capital LLC purchased a new stake in shares of Unicycive Therapeutics during the 3rd quarter worth about $2,984,000. Goldman Sachs Group Inc. purchased a new stake in shares of Unicycive Therapeutics during the 2nd quarter worth about $123,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Unicycive Therapeutics during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 40.42% of the company’s stock.

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.