Unity Biotechnology (NASDAQ:UBX) Price Target Cut to $8.00 by Analysts at HC Wainwright

Unity Biotechnology (NASDAQ:UBX) had its price target decreased by HC Wainwright from $10.00 to $8.00 in a research report released on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Unity Biotechnology Price Performance

NASDAQ:UBX opened at $1.52 on Tuesday. The business’s 50-day moving average is $1.66 and its two-hundred day moving average is $1.78. Unity Biotechnology has a 12 month low of $1.50 and a 12 month high of $3.82. The firm has a market capitalization of $25.51 million, a PE ratio of -0.42 and a beta of 0.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UBX. Acadian Asset Management LLC increased its position in shares of 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 last quarter. Renaissance Technologies LLC increased its position in shares of Unity Biotechnology by 5.6% during the second quarter. Renaissance Technologies LLC now owns 957,718 shares of the company’s stock worth $540,000 after acquiring an additional 51,003 shares during the last quarter. Virtu Financial LLC increased its position in shares of Unity Biotechnology by 25.4% during the second quarter. Virtu Financial LLC now owns 62,640 shares of the company’s stock worth $35,000 after acquiring an additional 12,681 shares during the last quarter. 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 last quarter. Finally, Vanguard Group Inc. increased its position in shares of Unity Biotechnology by 246.2% during the third quarter. Vanguard Group Inc. now owns 4,437,259 shares of the company’s stock worth $1,753,000 after acquiring an additional 3,155,586 shares during the last quarter. 29.49% of the stock is owned by hedge funds and other institutional investors.

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.