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

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

Unity Biotechnology Stock Performance

NASDAQ:UBX opened at $1.50 on Tuesday. The stock has a 50-day simple moving average of $1.67 and a 200-day simple moving average of $1.79. The stock has a market cap of $25.17 million, a P/E ratio of -0.41 and a beta of 0.87. Unity Biotechnology has a 1 year low of $1.50 and a 1 year high of $3.82.

Institutional Trading of Unity Biotechnology

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new position in shares of Unity Biotechnology in the 1st quarter valued at approximately $32,000. Virtu Financial LLC grew its stake in shares of Unity Biotechnology by 25.4% in the 2nd quarter. Virtu Financial LLC now owns 62,640 shares of the company’s stock valued at $35,000 after purchasing an additional 12,681 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Unity Biotechnology in the 4th quarter valued at approximately $37,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Unity Biotechnology in the 4th quarter valued at approximately $38,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Unity Biotechnology by 53.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 24,512 shares of the company’s stock valued at $39,000 after purchasing an additional 8,499 shares during the last quarter. 29.49% of the stock is owned by institutional investors and hedge funds.

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.