Unity Biotechnology (NASDAQ:UBX) Given New $8.00 Price Target at HC Wainwright

Unity Biotechnology (NASDAQ:UBX) had its target price cut by research analysts at HC Wainwright from $10.00 to $8.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 433.33% from the company’s previous close.

Unity Biotechnology Trading Down 1.3 %

Shares of UBX stock opened at $1.50 on Tuesday. Unity Biotechnology has a 12 month low of $1.50 and a 12 month high of $3.82. The stock has a market cap of $25.17 million, a PE ratio of -0.41 and a beta of 0.87. The company’s fifty day moving average price is $1.67 and its 200-day moving average price is $1.79.

Hedge Funds Weigh In On Unity Biotechnology

Several large investors have recently modified their holdings of UBX. Armistice Capital LLC purchased a new position in Unity Biotechnology in the 4th quarter worth about $1,328,000. Wells Fargo & Company MN raised its position in Unity Biotechnology by 28,706.0% in the 2nd quarter. Wells Fargo & Company MN now owns 43,497 shares of the company’s stock worth $111,000 after buying an additional 43,346 shares during the last quarter. BlackRock Inc. raised its position in Unity Biotechnology by 6.8% in the 2nd quarter. BlackRock Inc. now owns 114,846 shares of the company’s stock worth $293,000 after buying an additional 7,350 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in Unity Biotechnology in the 1st quarter worth about $142,000. Finally, State Street Corp raised its position in Unity Biotechnology by 53.5% in the 1st quarter. State Street Corp now owns 38,164 shares of the company’s stock worth $62,000 after buying an additional 13,300 shares during the last quarter. Hedge funds and other institutional investors own 29.49% of the company’s stock.

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