Unity Biotechnology (NASDAQ:UBX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “UNITY Biotechnology Inc. develops therapeutics which prevents, halts and reverses various diseases. The company’s product portfolio includes UBX101, is designed to treat musculoskeletal disease with an initial focus on osteoarthritis. UNITY Biotechnology Inc. is based in California, United States. “

UBX has been the subject of a number of other research reports. Cantor Fitzgerald started coverage on shares of Unity Biotechnology in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $21.00 price objective for the company. Mizuho reiterated a “buy” rating on shares of Unity Biotechnology in a research report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.17.

Shares of Unity Biotechnology stock opened at $9.30 on Tuesday. The stock has a market capitalization of $415.80 million and a price-to-earnings ratio of -3.66. Unity Biotechnology has a fifty-two week low of $7.39 and a fifty-two week high of $24.56.

Unity Biotechnology (NASDAQ:UBX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. Sell-side analysts expect that Unity Biotechnology will post -1.95 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Unity Biotechnology by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,708 shares of the company’s stock worth $3,677,000 after purchasing an additional 113,176 shares during the last quarter. Northern Trust Corp raised its position in shares of Unity Biotechnology by 293.7% during the 4th quarter. Northern Trust Corp now owns 230,152 shares of the company’s stock worth $3,742,000 after purchasing an additional 171,696 shares during the last quarter. BlackRock Inc. grew its stake in Unity Biotechnology by 48.1% during the 3rd quarter. BlackRock Inc. now owns 341,974 shares of the company’s stock valued at $5,571,000 after acquiring an additional 111,039 shares in the last quarter. FMR LLC grew its stake in Unity Biotechnology by 8.1% during the 4th quarter. FMR LLC now owns 3,851,023 shares of the company’s stock valued at $62,618,000 after acquiring an additional 288,300 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new stake in Unity Biotechnology during the 4th quarter valued at about $196,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

About Unity Biotechnology

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 that is in Phase 1 clinical study for musculoskeletal disease; and UBX1967 for ophthalmologic diseases. It is also developing programs in pulmonary disorders.

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