Unicycive Therapeutics (NASDAQ:UNCY) Given “Speculative Buy” Rating at Benchmark

Benchmark reissued their speculative buy rating on shares of Unicycive Therapeutics (NASDAQ:UNCY) in a report issued on Monday, Benzinga reports. Benchmark currently has a $3.00 price target on the stock.

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

Unicycive Therapeutics Price Performance

Shares of NASDAQ UNCY opened at $1.14 on Monday. Unicycive Therapeutics has a 1 year low of $0.47 and a 1 year high of $1.83. The company has a 50 day simple moving average of $1.39 and a 200 day simple moving average of $0.96. The firm has a market cap of $39.63 million, a PE ratio of -0.74 and a beta of 2.66.

Unicycive Therapeutics (NASDAQ:UNCY) last released its quarterly earnings data 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 anticipate that Unicycive Therapeutics will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of hedge funds have recently made changes to their positions in UNCY. Two Sigma Advisers LP bought a new stake in shares of Unicycive Therapeutics during the 1st quarter worth $31,000. Balyasny Asset Management L.P. bought a new stake in Unicycive Therapeutics in the 1st quarter valued at about $1,506,000. Geode Capital Management LLC raised its stake in Unicycive Therapeutics by 267.3% in the 1st quarter. Geode Capital Management LLC now owns 95,898 shares of the company’s stock valued at $201,000 after acquiring an additional 69,789 shares during the period. State Street Corp bought a new stake in Unicycive Therapeutics in the 1st quarter valued at about $74,000. Finally, Ground Swell Capital LLC bought a new stake in Unicycive Therapeutics in the 2nd quarter valued at about $26,000. 40.42% of the stock is currently owned by institutional investors.

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.