HC Wainwright Issues Pessimistic Forecast for Unity Biotechnology (NASDAQ:UBX) Stock Price

Unity Biotechnology (NASDAQ:UBX) had its target price decreased by stock analysts at HC Wainwright from $8.00 to $4.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 216.21% from the company’s current price.

Separately, Chardan Capital reiterated a “buy” rating and set a $6.00 price target on shares of Unity Biotechnology in a report on Monday, March 10th.

Unity Biotechnology Stock Down 2.7 %

Unity Biotechnology stock opened at $1.27 on Monday. Unity Biotechnology has a 12 month low of $0.94 and a 12 month high of $3.10. The stock has a market cap of $21.34 million, a P/E ratio of -0.97 and a beta of 1.02. The company’s fifty day simple moving average is $1.90 and its 200-day simple moving average is $1.51.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Unity Biotechnology stock. Bridgeway Capital Management LLC increased its holdings in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 50,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Bridgeway Capital Management LLC owned approximately 0.30% of Unity Biotechnology worth $49,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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 2 clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.