HC Wainwright Cuts Unity Biotechnology (NASDAQ:UBX) Price Target to $4.00

Unity Biotechnology (NASDAQ:UBX) had its price target lowered by HC Wainwright from $8.00 to $4.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Unity Biotechnology Stock Down 5.1 %

UBX stock opened at $1.20 on Monday. The company has a 50-day simple moving average of $1.89 and a 200 day simple moving average of $1.51. The company has a market capitalization of $20.24 million, a P/E ratio of -0.92 and a beta of 1.02. Unity Biotechnology has a fifty-two week low of $0.94 and a fifty-two week high of $3.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Unity Biotechnology stock. Bridgeway Capital Management LLC grew its holdings in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission. 29.49% of the stock is owned by institutional investors and hedge funds.

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.