Unicycive Therapeutics (NASDAQ:UNCY) Receives “Speculative Buy” Rating from Benchmark

Unicycive Therapeutics (NASDAQ:UNCY)‘s stock had its “speculative buy” rating reiterated by equities researchers at Benchmark in a research note issued to investors on Friday,Benzinga reports. They currently have a $3.00 target price on the stock. Benchmark’s price objective would indicate a potential upside of 466.04% from the stock’s previous close.

Separately, HC Wainwright restated a “buy” rating and set a $2.50 price objective on shares of Unicycive Therapeutics in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $5.13.

Unicycive Therapeutics Stock Performance

Unicycive Therapeutics stock opened at $0.53 on Friday. The company has a 50-day simple moving average of $0.44 and a 200-day simple moving average of $0.53. The firm has a market capitalization of $55.01 million, a P/E ratio of -0.55 and a beta of 2.29. Unicycive Therapeutics has a one year low of $0.20 and a one year high of $1.82.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC increased its holdings in shares of Unicycive Therapeutics by 566.8% in the 3rd quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock valued at $30,000 after purchasing an additional 62,881 shares during the period. XTX Topco Ltd acquired a new position in Unicycive Therapeutics in the third quarter worth approximately $29,000. Walleye Capital LLC acquired a new position in Unicycive Therapeutics in the third quarter worth approximately $2,040,000. Acuta Capital Partners LLC acquired a new position in Unicycive Therapeutics in the third quarter worth approximately $807,000. Finally, Great Point Partners LLC acquired a new position in Unicycive Therapeutics in the third quarter worth approximately $3,491,000. Institutional investors and hedge funds 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.