HC Wainwright Lowers Unity Biotechnology (NASDAQ:UBX) Price Target to $8.00

Unity Biotechnology (NASDAQ:UBX) had its target price cut by investment analysts at HC Wainwright from $10.00 to $8.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 431.56% from the company’s current price. HC Wainwright also issued estimates for Unity Biotechnology’s Q1 2024 earnings at ($0.57) EPS, Q2 2024 earnings at ($0.59) EPS, Q3 2024 earnings at ($0.62) EPS, Q4 2024 earnings at ($0.64) EPS and FY2028 earnings at $0.29 EPS.

Unity Biotechnology Trading Down 1.0 %

Shares of UBX opened at $1.51 on Tuesday. Unity Biotechnology has a twelve month low of $1.50 and a twelve month high of $3.82. The stock’s 50 day moving average is $1.66 and its two-hundred day moving average is $1.78. The firm has a market capitalization of $25.25 million, a PE ratio of -0.51 and a beta of 0.87.

Institutional Investors Weigh In On Unity Biotechnology

Institutional investors have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC purchased a new stake in Unity Biotechnology in the 1st quarter valued at approximately $142,000. Wells Fargo & Company MN boosted its stake in shares of Unity Biotechnology by 28,706.0% during the 2nd quarter. Wells Fargo & Company MN now owns 43,497 shares of the company’s stock worth $111,000 after acquiring an additional 43,346 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Unity Biotechnology by 123.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 67,899 shares of the company’s stock worth $111,000 after acquiring an additional 37,473 shares in the last quarter. State Street Corp boosted its stake in shares of Unity Biotechnology by 21.0% during the 2nd quarter. State Street Corp now owns 130,440 shares of the company’s stock worth $74,000 after acquiring an additional 22,600 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Unity Biotechnology by 53.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 24,512 shares of the company’s stock worth $39,000 after acquiring an additional 8,499 shares in the last quarter. Hedge funds and other institutional investors own 29.49% of the company’s stock.

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 II clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.