Unity Biotechnology (NASDAQ:UBX) Given New $4.00 Price Target at HC Wainwright

Unity Biotechnology (NASDAQ:UBX) had its target price dropped by equities research analysts at HC Wainwright from $8.00 to $4.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 233.33% from the stock’s previous close.

Separately, Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Unity Biotechnology in a research note on Monday, March 10th.

Unity Biotechnology Trading Down 34.2 %

Shares of NASDAQ UBX traded down $0.63 during midday trading on Monday, reaching $1.20. The company’s stock had a trading volume of 1,388,598 shares, compared to its average volume of 108,235. Unity Biotechnology has a fifty-two week low of $0.94 and a fifty-two week high of $3.10. The stock has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $1.51. The stock has a market capitalization of $20.24 million, a price-to-earnings ratio of -0.92 and a beta of 1.02.

Institutional Investors Weigh In On Unity Biotechnology

A hedge fund recently raised its stake in Unity Biotechnology stock. Geode Capital Management LLC increased its position in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,242 shares of the company’s stock after purchasing an additional 14,199 shares during the period. Geode Capital Management LLC owned approximately 0.97% of Unity Biotechnology worth $240,000 as of its most recent filing with the Securities and Exchange Commission. 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 2 clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.