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

Unity Biotechnology (NASDAQ:UBX) had its target price reduced by HC Wainwright from $10.00 to $8.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock. 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, FY2024 earnings at ($2.42) EPS, FY2025 earnings at ($2.52) EPS, FY2026 earnings at ($1.30) EPS, FY2027 earnings at ($0.29) EPS and FY2028 earnings at $0.29 EPS.

Unity Biotechnology Stock Down 0.7 %

Shares of NASDAQ UBX opened at $1.50 on Tuesday. The firm has a market cap of $25.19 million, a price-to-earnings ratio of -0.51 and a beta of 0.87. Unity Biotechnology has a 52-week low of $1.50 and a 52-week high of $3.82. The business’s 50 day moving average is $1.65 and its two-hundred day moving average is $1.77.

Institutional Trading of Unity Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new stake in Unity Biotechnology in the first quarter valued at approximately $142,000. Wells Fargo & Company MN increased its position in shares of Unity Biotechnology by 28,706.0% during the second 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 during the period. Dimensional Fund Advisors LP increased its position in shares of Unity Biotechnology by 123.2% during the first 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 during the period. State Street Corp increased its position in shares of Unity Biotechnology by 21.0% during the second quarter. State Street Corp now owns 130,440 shares of the company’s stock worth $74,000 after acquiring an additional 22,600 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Unity Biotechnology by 53.1% during the first 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 during the period. 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.