HC Wainwright Reaffirms “Buy” Rating for Unicycive Therapeutics (NASDAQ:UNCY)

HC Wainwright reissued their buy rating on shares of Unicycive Therapeutics (NASDAQ:UNCY) in a research report released on Wednesday, Benzinga reports. The brokerage currently has a $4.50 price target on the stock.

UNCY has been the subject of a number of other reports. Piper Sandler initiated coverage on Unicycive Therapeutics in a research note on Thursday, April 4th. They set an overweight rating and a $9.00 price objective for the company. Benchmark reiterated a speculative buy rating and issued a $3.00 price target 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $5.63.

Unicycive Therapeutics Stock Up 3.1 %

Shares of Unicycive Therapeutics stock opened at $0.49 on Wednesday. The stock’s fifty day moving average is $0.77 and its two-hundred day moving average is $1.04. The company has a market capitalization of $18.61 million, a PE ratio of -0.42 and a beta of 2.39. Unicycive Therapeutics has a 52 week low of $0.34 and a 52 week high of $1.82.

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

Hedge Funds Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Unicycive Therapeutics during the first quarter worth approximately $36,000. Rosalind Advisors Inc. purchased a new position in Unicycive Therapeutics during the first quarter worth approximately $2,594,000. Finally, BVF Inc. IL lifted its position 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 buying an additional 1,493,462 shares in the last quarter. Hedge funds and other 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.