Unity Biotechnology (NASDAQ:UBX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Unity Biotechnology (NASDAQ:UBX) in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $8.00 price objective on the stock.

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

Unity Biotechnology Stock Down 4.8 %

NASDAQ:UBX opened at $1.60 on Monday. The company’s 50 day moving average price is $1.84 and its 200-day moving average price is $1.51. Unity Biotechnology has a 52 week low of $0.94 and a 52 week high of $3.10. The stock has a market cap of $26.96 million, a price-to-earnings ratio of -1.22 and a beta of 1.02.

Institutional Investors Weigh In On Unity Biotechnology

A hedge fund recently raised its stake in Unity Biotechnology stock. Bridgeway Capital Management LLC increased its stake in Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Bridgeway Capital Management LLC owned 0.30% of Unity Biotechnology worth $49,000 at the end of the most recent quarter. 29.49% of the stock is currently 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.