Zacks Investment Research Lowers Unity Biotechnology (NASDAQ:UBX) to Hold

Unity Biotechnology (NASDAQ:UBXGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, 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. “

Separately, Citigroup cut their target price on shares of Unity Biotechnology from $6.00 to $5.00 and set a “na” rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Unity Biotechnology presently has a consensus rating of “Buy” and a consensus price target of $5.61.

UBX traded down $0.02 during trading on Wednesday, reaching $0.83. 100 shares of the company traded hands, compared to its average volume of 363,643. Unity Biotechnology has a 12-month low of $0.70 and a 12-month high of $5.09. The firm has a fifty day simple moving average of $1.01 and a 200 day simple moving average of $1.39. The company has a market cap of $57.41 million, a P/E ratio of -0.77 and a beta of 0.39.

Unity Biotechnology (NASDAQ:UBXGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). On average, equities research analysts predict that Unity Biotechnology will post -1.1 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of UBX. LPL Financial LLC bought a new stake in shares of Unity Biotechnology during the fourth quarter worth $26,000. Virtu Financial LLC bought a new stake in shares of Unity Biotechnology during the fourth quarter worth $78,000. Walleye Capital LLC lifted its position in shares of Unity Biotechnology by 331.2% during the fourth quarter. Walleye Capital LLC now owns 54,365 shares of the company’s stock worth $79,000 after purchasing an additional 41,758 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Unity Biotechnology by 116.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 90,164 shares of the company’s stock worth $132,000 after purchasing an additional 48,483 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Unity Biotechnology during the fourth quarter worth $138,000. Institutional investors own 21.22% of the company’s stock.

Unity Biotechnology Company Profile (Get Rating)

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.

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