Unity Biotechnology (NASDAQ:UBX) Lifted to Outperform at Wedbush

Unity Biotechnology (NASDAQ:UBX) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat.com reports. The brokerage currently has a $4.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 120.99% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Unity Biotechnology in a research report on Tuesday.

Unity Biotechnology Price Performance

UBX opened at $1.81 on Thursday. The stock’s 50-day moving average price is $2.07 and its 200 day moving average price is $2.56. Unity Biotechnology has a 12-month low of $1.46 and a 12-month high of $5.72.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Unity Biotechnology by 246.2% in the third quarter. Vanguard Group Inc. now owns 4,437,259 shares of the company’s stock valued at $1,753,000 after purchasing an additional 3,155,586 shares during the period. Renaissance Technologies LLC grew its holdings in Unity Biotechnology by 65.2% during the third quarter. Renaissance Technologies LLC now owns 1,582,369 shares of the company’s stock worth $625,000 after acquiring an additional 624,651 shares during the period. Acadian Asset Management LLC grew its holdings in Unity Biotechnology by 39.8% during the first quarter. Acadian Asset Management LLC now owns 389,893 shares of the company’s stock worth $435,000 after acquiring an additional 111,097 shares during the period. State Street Corp grew its holdings in Unity Biotechnology by 32.4% during the third quarter. State Street Corp now owns 172,640 shares of the company’s stock worth $68,000 after acquiring an additional 42,200 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Unity Biotechnology by 35.0% during the first quarter. Geode Capital Management LLC now owns 122,983 shares of the company’s stock worth $200,000 after acquiring an additional 31,882 shares during the period. Institutional investors and hedge funds own 18.45% 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.