Unity Biotechnology (NASDAQ:UBX) Downgraded by BidaskClub

BidaskClub lowered shares of Unity Biotechnology (NASDAQ:UBX) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised Unity Biotechnology from a hold rating to a strong-buy rating and set a $6.50 target price on the stock in a research report on Saturday, March 28th. Morgan Stanley dropped their target price on Unity Biotechnology from $14.00 to $13.00 and set an overweight rating on the stock in a report on Wednesday, April 15th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $18.13.

NASDAQ UBX opened at $8.68 on Tuesday. The stock has a market cap of $426.04 million, a PE ratio of -4.23 and a beta of 0.36. Unity Biotechnology has a twelve month low of $4.62 and a twelve month high of $10.38. The stock has a fifty day simple moving average of $8.13 and a 200-day simple moving average of $6.94.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.03). Analysts expect that Unity Biotechnology will post -1.92 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Unity Biotechnology by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 80,212 shares of the company’s stock worth $465,000 after purchasing an additional 3,450 shares in the last quarter. FMR LLC raised its holdings in shares of Unity Biotechnology by 4.5% in the fourth quarter. FMR LLC now owns 4,850,989 shares of the company’s stock worth $34,976,000 after acquiring an additional 207,800 shares during the last quarter. Mayo Clinic acquired a new position in shares of Unity Biotechnology in the fourth quarter worth $11,334,000. Cubist Systematic Strategies LLC acquired a new position in Unity Biotechnology in the fourth quarter valued at $54,000. Finally, Geode Capital Management LLC increased its stake in Unity Biotechnology by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 356,349 shares of the company’s stock valued at $2,569,000 after purchasing an additional 27,950 shares during the last quarter. Institutional investors own 44.56% of the company’s stock.

About Unity Biotechnology

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 that is in Phase 1 clinical study for musculoskeletal disease; and UBX1967 for ophthalmologic diseases. It is also developing programs in pulmonary disorders.

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