May. 13 at 8:49 PM
$UNCY The challenge there is that Unicycive Therapeutics just recently saw Guggenheim lower their price target from
$46 to
$40 on April 2nd. Now only 5 weeks later the price is lowered 7.5% further to
$37.
UNCY has also seen several updates from other financial analysts regarding its stock price targets. Brookline Capital Markets lowered its price target for Unicycive to
$23 from
$40, citing an increased number of shares outstanding.
Similarly, Benchmark adjusted its price target to
$15 from
$21, while continuing with a Speculative Buy rating, noting changes in share count.
Adding a few million shares is no big deal when you have 100,000,000 shares. Adding a few million shares when you only have 22,000,000 is significantly negative.
