Unity Biotechnology (NASDAQ:UBX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Unity Biotechnology (NASDAQ:UBX) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $4.00 price target on the stock.

Separately, Chardan Capital dropped their target price on shares of Unity Biotechnology from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th.

Unity Biotechnology Stock Performance

UBX opened at $0.99 on Wednesday. The business’s 50-day simple moving average is $1.40 and its 200 day simple moving average is $1.44. The firm has a market capitalization of $16.63 million, a PE ratio of -0.75 and a beta of 1.30. Unity Biotechnology has a 52-week low of $0.85 and a 52-week high of $3.10.

Unity Biotechnology (NASDAQ:UBX) last released its quarterly earnings data on Tuesday, April 22nd. The company reported ($0.43) EPS for the quarter, meeting the consensus estimate of ($0.43). On average, research analysts forecast that Unity Biotechnology will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On Unity Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Unity Biotechnology by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 163,242 shares of the company’s stock worth $240,000 after buying an additional 14,199 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Unity Biotechnology by 100.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 50,000 shares of the company’s stock valued at $49,000 after acquiring an additional 25,000 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new stake in Unity Biotechnology during the first quarter worth approximately $29,000. 29.49% of the stock is currently owned by institutional investors and hedge funds.

About Unity Biotechnology

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to slow, halt, or reverse diseases of aging. The company's lead drug candidate includes UBX1325, which is Phase 2 clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.