Unity Biotechnology (NASDAQ:UBX) Price Target Cut to $8.00

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

Unity Biotechnology Stock Up 1.3 %

UBX stock opened at $1.52 on Tuesday. Unity Biotechnology has a twelve month low of $1.50 and a twelve month high of $3.82. The company has a market cap of $25.51 million, a PE ratio of -0.42 and a beta of 0.87. The business’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $1.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC bought a new position in Unity Biotechnology during the first quarter worth about $142,000. Wells Fargo & Company MN lifted its stake in Unity Biotechnology by 28,706.0% during the second quarter. Wells Fargo & Company MN now owns 43,497 shares of the company’s stock worth $111,000 after purchasing an additional 43,346 shares during the period. Dimensional Fund Advisors LP lifted its stake in Unity Biotechnology by 123.2% during the first quarter. Dimensional Fund Advisors LP now owns 67,899 shares of the company’s stock worth $111,000 after purchasing an additional 37,473 shares during the period. State Street Corp lifted its stake in 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 purchasing an additional 22,600 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in Unity Biotechnology by 53.1% during the first quarter. Commonwealth Equity Services LLC now owns 24,512 shares of the company’s stock worth $39,000 after purchasing an additional 8,499 shares during the period. Institutional investors own 29.49% 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.