Unity Biotechnology Inc (NASDAQ:UBX) Receives $18.13 Consensus PT from Brokerages

Shares of Unity Biotechnology Inc (NASDAQ:UBX) have earned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.50.

A number of equities research analysts have commented on UBX shares. Roth Capital initiated coverage on Unity Biotechnology in a research report on Monday, July 27th. They issued a “buy” rating and a $35.00 price target on the stock. BidaskClub downgraded Unity Biotechnology from a “buy” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley dropped their price objective on Unity Biotechnology from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th.

A number of hedge funds have recently bought and sold shares of UBX. FMR LLC raised its stake in Unity Biotechnology by 18.2% during the 1st quarter. FMR LLC now owns 4,551,523 shares of the company’s stock worth $36,913,000 after buying an additional 700,500 shares during the period. Raymond James & Associates acquired a new position in Unity Biotechnology during the 4th quarter worth approximately $380,000. Credit Suisse AG raised its stake in Unity Biotechnology by 20.7% during the 4th quarter. Credit Suisse AG now owns 17,987 shares of the company’s stock worth $129,000 after buying an additional 3,088 shares during the period. Renaissance Technologies LLC acquired a new position in Unity Biotechnology during the 4th quarter worth approximately $216,000. Finally, UBS Group AG raised its stake in Unity Biotechnology by 43.4% during the 4th quarter. UBS Group AG now owns 32,061 shares of the company’s stock worth $231,000 after buying an additional 9,696 shares during the period. 44.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ UBX traded down $0.12 during trading on Tuesday, reaching $9.43. The company had a trading volume of 822,384 shares, compared to its average volume of 386,560. The company’s fifty day moving average price is $8.63 and its 200-day moving average price is $7.08. Unity Biotechnology has a 12 month low of $4.62 and a 12 month high of $10.38.

Unity Biotechnology (NASDAQ:UBX) last released its quarterly earnings results on Friday, July 31st. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.13. As a group, analysts forecast that Unity Biotechnology will post -1.97 earnings per share for the current fiscal year.

Unity Biotechnology Company Profile

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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