Unicycive Therapeutics (NASDAQ:UNCY) Trading Down 6.2% – Here’s What Happened

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) shares fell 6.2% during mid-day trading on Tuesday . The stock traded as low as $4.42 and last traded at $4.42. 430,431 shares were traded during trading, a decline of 31% from the average session volume of 620,510 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UNCY. Guggenheim began coverage on shares of Unicycive Therapeutics in a research report on Monday, April 21st. They set a “buy” rating and a $60.00 price target on the stock. HC Wainwright raised shares of Unicycive Therapeutics to a “strong-buy” rating and set a $90.00 price target on the stock in a research report on Tuesday, May 27th.

Unicycive Therapeutics Price Performance

The company has a market capitalization of $55.87 million, a PE ratio of -0.87 and a beta of 1.89. The company’s 50 day simple moving average is $5.77 and its 200 day simple moving average is $5.86.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its earnings results on Wednesday, May 14th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.40) by $0.90. On average, equities analysts forecast that Unicycive Therapeutics, Inc. will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Unicycive Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in Unicycive Therapeutics by 142.4% in the fourth quarter. Northern Trust Corp now owns 58,181 shares of the company’s stock worth $46,000 after acquiring an additional 34,183 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Unicycive Therapeutics by 142.2% during the 4th quarter. XTX Topco Ltd now owns 171,463 shares of the company’s stock worth $136,000 after purchasing an additional 100,679 shares during the period. Geode Capital Management LLC increased its holdings in shares of Unicycive Therapeutics by 30.3% in the 4th quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock valued at $417,000 after purchasing an additional 122,089 shares in the last quarter. Acuta Capital Partners LLC lifted its stake in shares of Unicycive Therapeutics by 16.4% in the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company’s stock valued at $1,829,000 after purchasing an additional 323,801 shares during the period. Finally, Vivo Capital LLC lifted its stake in shares of Unicycive Therapeutics by 14.0% in the first quarter. Vivo Capital LLC now owns 11,370,152 shares of the company’s stock valued at $6,537,000 after purchasing an additional 1,400,000 shares during the period. Hedge funds and other institutional investors own 40.42% of the company’s stock.

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.