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

HC Wainwright reiterated their buy rating on shares of Unicycive Therapeutics (NASDAQ:UNCY) in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a $2.50 price target on the stock.

Separately, Benchmark reissued a “speculative buy” rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a research report on Friday, September 6th. 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.com, the company has an average rating of “Buy” and an average price target of $5.13.

Unicycive Therapeutics Stock Performance

Shares of UNCY opened at $0.48 on Tuesday. Unicycive Therapeutics has a fifty-two week low of $0.20 and a fifty-two week high of $1.82. The stock has a fifty day moving average of $0.42 and a two-hundred day moving average of $0.56. The company has a market capitalization of $45.71 million, a PE ratio of -0.46 and a beta of 2.29.

Unicycive Therapeutics (NASDAQ:UNCY) last released its earnings results on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.08. As a group, equities research analysts forecast that Unicycive Therapeutics will post -0.26 earnings per share for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

Institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC purchased a new stake in Unicycive Therapeutics during the third quarter worth approximately $33,000. Virtu Financial LLC acquired a new position in shares of Unicycive Therapeutics during the 1st quarter valued at $36,000. Finally, BVF Inc. IL boosted its position in Unicycive Therapeutics by 70.5% during the 1st 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. 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.