Unity Biotechnology, Inc. Expected to Post FY2023 Earnings of ($2.66) Per Share (NASDAQ:UBX)

Unity Biotechnology, Inc. (NASDAQ:UBX) – Investment analysts at Wedbush increased their FY2023 earnings estimates for shares of Unity Biotechnology in a research report issued to clients and investors on Thursday, November 16th. Wedbush analyst A. Argyrides now expects that the company will post earnings of ($2.66) per share for the year, up from their previous estimate of ($3.08). Wedbush currently has a “Outperform” rating and a $4.00 target price on the stock. The consensus estimate for Unity Biotechnology’s current full-year earnings is ($3.08) per share. Wedbush also issued estimates for Unity Biotechnology’s Q4 2023 earnings at ($0.39) EPS, FY2024 earnings at ($1.50) EPS, FY2025 earnings at ($1.50) EPS, FY2026 earnings at ($1.52) EPS and FY2027 earnings at ($1.54) EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Unity Biotechnology in a research note on Tuesday, November 14th.

Unity Biotechnology Trading Up 17.7 %

Shares of UBX stock opened at $2.13 on Monday. The stock has a market cap of $31.14 million, a price-to-earnings ratio of -0.58 and a beta of 0.53. The company’s 50-day moving average price is $2.06 and its 200-day moving average price is $2.56. Unity Biotechnology has a twelve month low of $1.46 and a twelve month high of $5.72.

Institutional Trading of Unity Biotechnology

Hedge funds have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new position in shares of Unity Biotechnology during the first quarter worth approximately $142,298,000,000. Jane Street Group LLC acquired a new position in shares of Unity Biotechnology during the 4th quarter worth $37,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Unity Biotechnology during the 4th quarter worth $38,000. Virtu Financial LLC acquired a new position in Unity Biotechnology in the 2nd quarter valued at about $46,000. Finally, Two Sigma Investments LP acquired a new position in Unity Biotechnology in the 1st quarter valued at about $32,000. 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.