Unity Biotechnology’s (UBX) “Buy” Rating Reaffirmed at HC Wainwright

Unity Biotechnology (NASDAQ:UBX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $8.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 376.19% from the stock’s current price.

Separately, Chardan Capital initiated coverage on Unity Biotechnology in a report on Friday, January 10th. They set a “buy” rating and a $6.00 target price on the stock.

Unity Biotechnology Stock Down 4.5 %

NASDAQ:UBX opened at $1.68 on Monday. The company has a market capitalization of $28.31 million, a PE ratio of -1.28 and a beta of 1.02. The stock has a fifty day simple moving average of $1.84 and a 200-day simple moving average of $1.51. Unity Biotechnology has a 52-week low of $0.94 and a 52-week high of $3.10.

Hedge Funds Weigh In On Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Bridgeway Capital Management LLC boosted its position in Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,000 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Bridgeway Capital Management LLC owned about 0.30% of Unity Biotechnology worth $49,000 at the end of the most recent reporting period. 29.49% of the stock is currently owned by hedge funds and other institutional investors.

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.