Unicycive Therapeutics (NASDAQ:UNCY) Shares Down 0.4% – Here’s Why
by Amy Steele · The Cerbat GemUnicycive Therapeutics, Inc. (NASDAQ:UNCY – Get Free Report) fell 0.4% during trading on Thursday . The company traded as low as $6.84 and last traded at $7.01. 244,639 shares traded hands during trading, a decline of 48% from the average session volume of 466,469 shares. The stock had previously closed at $7.04.
Wall Street Analysts Forecast Growth
UNCY has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research report on Monday, December 29th. Guggenheim reaffirmed a “buy” rating on shares of Unicycive Therapeutics in a research report on Tuesday, December 30th. Finally, Westpark Capital initiated coverage on shares of Unicycive Therapeutics in a research note on Thursday, February 19th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.33.
Read Our Latest Stock Analysis on UNCY
Unicycive Therapeutics Price Performance
The company has a 50 day simple moving average of $6.51 and a 200-day simple moving average of $5.53. The stock has a market capitalization of $150.64 million, a P/E ratio of -1.77 and a beta of 1.82.
Institutional Investors Weigh In On Unicycive Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vivo Capital LLC boosted its position in Unicycive Therapeutics by 57.4% during the third quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock worth $7,804,000 after purchasing an additional 652,901 shares during the period. Millennium Management LLC bought a new stake in shares of Unicycive Therapeutics in the fourth quarter valued at approximately $5,856,000. Vanguard Group Inc. lifted its stake in shares of Unicycive Therapeutics by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock valued at $2,873,000 after buying an additional 52,925 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Unicycive Therapeutics during the 4th quarter valued at approximately $1,154,000. Finally, Geode Capital Management LLC boosted its holdings in Unicycive Therapeutics by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 171,290 shares of the company’s stock worth $989,000 after buying an additional 45,563 shares during the period. 40.42% of the stock is currently owned by institutional investors.
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. The company was incorporated in 2016 and is based in Los Altos, California.