HC Wainwright Issues Positive Forecast for Unicycive Therapeutics (NASDAQ:UNCY) Stock Price

Unicycive Therapeutics (NASDAQ:UNCY) had its price objective boosted by HC Wainwright from $4.00 to $7.50 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Unicycive Therapeutics Stock Down 5.0 %

NASDAQ:UNCY opened at $0.55 on Tuesday. The firm’s fifty day simple moving average is $0.59 and its 200 day simple moving average is $0.57. The stock has a market cap of $56.67 million, a P/E ratio of -0.56 and a beta of 2.26. Unicycive Therapeutics has a twelve month low of $0.20 and a twelve month high of $1.60.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). On average, analysts expect that Unicycive Therapeutics will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNCY. Nantahala Capital Management LLC increased its stake in shares of Unicycive Therapeutics by 268.5% in the 4th quarter. Nantahala Capital Management LLC now owns 10,391,994 shares of the company’s stock worth $8,253,000 after acquiring an additional 7,571,636 shares in the last quarter. Vivo Capital LLC boosted its position in shares of Unicycive Therapeutics by 123.0% in the 4th quarter. Vivo Capital LLC now owns 9,970,152 shares of the company’s stock worth $7,918,000 after purchasing an additional 5,500,000 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Unicycive Therapeutics in the 3rd quarter worth approximately $2,040,000. Octagon Capital Advisors LP increased its position in Unicycive Therapeutics by 16.8% during the 4th quarter. Octagon Capital Advisors LP now owns 10,000,000 shares of the company’s stock valued at $7,942,000 after buying an additional 1,441,000 shares in the last quarter. Finally, Acuta Capital Partners LLC raised its stake in Unicycive Therapeutics by 16.4% during the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company’s stock valued at $1,829,000 after buying an additional 323,801 shares during the last quarter. 40.42% of the stock is owned by hedge funds and other 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.