Unity Biotechnology (NASDAQ:UBX) Receives Buy Rating from Chardan Capital

Unity Biotechnology (NASDAQ:UBX)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a research report issued on Monday,Benzinga reports. They presently have a $6.00 price target on the stock. Chardan Capital’s price target would suggest a potential upside of 257.14% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Unity Biotechnology in a research report on Monday.

Unity Biotechnology Price Performance

Unity Biotechnology stock opened at $1.68 on Monday. Unity Biotechnology has a one year low of $0.94 and a one year high of $3.10. The company’s fifty day moving average price is $1.84 and its two-hundred day moving average price is $1.51. The company has a market capitalization of $28.31 million, a price-to-earnings ratio of -1.28 and a beta of 1.02.

Hedge Funds Weigh In On Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Geode Capital Management LLC raised its stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 163,242 shares of the company’s stock after purchasing an additional 14,199 shares during the quarter. Geode Capital Management LLC owned 0.97% of Unity Biotechnology worth $240,000 as of its most recent filing with the SEC. 29.49% of the stock is owned by hedge funds and other institutional investors.

Unity Biotechnology Company Profile

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.