Benchmark Reiterates “Speculative Buy” Rating for Unicycive Therapeutics (NASDAQ:UNCY)

Unicycive Therapeutics (NASDAQ:UNCY)‘s stock had its “speculative buy” rating reissued by research analysts at Benchmark in a report issued on Friday,Benzinga reports. They presently have a $3.00 price objective on the stock. Benchmark’s price target suggests a potential upside of 466.04% from the company’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 target price on shares of Unicycive Therapeutics in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $5.13.

Unicycive Therapeutics Price Performance

Shares of NASDAQ UNCY opened at $0.53 on Friday. The company’s 50-day simple moving average is $0.44 and its 200-day simple moving average is $0.53. Unicycive Therapeutics has a 52-week low of $0.20 and a 52-week high of $1.82. The firm has a market cap of $55.01 million, a price-to-earnings ratio of -0.55 and a beta of 2.29.

Institutional Investors Weigh In On Unicycive Therapeutics

Several hedge funds have recently modified their holdings of UNCY. Virtu Financial LLC acquired a new position in shares of Unicycive Therapeutics during the first quarter worth $36,000. XTX Topco Ltd acquired a new position in shares of Unicycive Therapeutics during the third quarter worth $29,000. Bleakley Financial Group LLC acquired a new position in shares of Unicycive Therapeutics during the third quarter worth $33,000. Acuta Capital Partners LLC acquired a new position in shares of Unicycive Therapeutics during the third quarter worth $807,000. Finally, BVF Inc. IL lifted its position in shares of 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 purchasing an additional 1,493,462 shares in the last quarter. 40.42% of the stock is owned by institutional investors and hedge funds.

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.