Chardan Capital Lowers Unity Biotechnology (NASDAQ:UBX) Price Target to $4.00

Unity Biotechnology (NASDAQ:UBX) had its price objective cut by research analysts at Chardan Capital from $6.00 to $4.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s price target would suggest a potential upside of 233.33% from the stock’s previous close.

Separately, HC Wainwright dropped their target price on Unity Biotechnology from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday.

Unity Biotechnology Trading Down 5.1 %

Shares of UBX opened at $1.20 on Tuesday. The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $1.51. The firm has a market cap of $20.24 million, a PE ratio of -0.92 and a beta of 1.02. Unity Biotechnology has a 1-year low of $0.94 and a 1-year high of $3.10.

Hedge Funds Weigh In On Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Geode Capital Management LLC lifted its holdings in Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,242 shares of the company’s stock after acquiring an additional 14,199 shares during the period. Geode Capital Management LLC owned 0.97% of Unity Biotechnology worth $240,000 at the end of the most recent reporting period. Hedge funds and other 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 2 clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.