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

Unity Biotechnology (NASDAQ:UBX) had its price target reduced by Chardan Capital from $6.00 to $4.00 in a research note released on Tuesday,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

Separately, HC Wainwright lowered their price objective on Unity Biotechnology from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Monday.

Unity Biotechnology Stock Performance

Shares of NASDAQ UBX opened at $1.27 on Tuesday. The company has a 50 day simple moving average of $1.90 and a two-hundred day simple moving average of $1.51. Unity Biotechnology has a fifty-two week low of $0.94 and a fifty-two week high of $3.10. The company has a market capitalization of $21.34 million, a price-to-earnings ratio of -0.97 and a beta of 1.02.

Hedge Funds Weigh In On Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Bridgeway Capital Management LLC raised its holdings in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after buying 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 quarter. 29.49% of the stock is owned by hedge funds and other institutional investors.

Unity Biotechnology Company Profile

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.