Unity Biotechnology (UBX) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Unity Biotechnology (NASDAQ:UBX) from a sell rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “UNITY Biotechnology Inc. develops therapeutics which prevents, halts and reverses various diseases. The company’s product portfolio includes UBX101, is designed to treat musculoskeletal disease with an initial focus on osteoarthritis. UNITY Biotechnology Inc. is based in California, United States. “

Several other equities research analysts have also recently issued reports on the company. Mizuho reissued a buy rating on shares of Unity Biotechnology in a research note on Wednesday, March 6th. Cantor Fitzgerald initiated coverage on Unity Biotechnology in a research note on Wednesday, March 6th. They set an overweight rating and a $21.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $24.17.

NASDAQ:UBX opened at $8.95 on Tuesday. Unity Biotechnology has a one year low of $7.39 and a one year high of $24.56. The company has a market capitalization of $401.18 million and a P/E ratio of -3.52.

Unity Biotechnology (NASDAQ:UBX) last posted its earnings results on Wednesday, May 8th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.03. Research analysts forecast that Unity Biotechnology will post -1.95 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Cerity Partners LLC boosted its position in shares of Unity Biotechnology by 66.6% during the first quarter. Cerity Partners LLC now owns 32,000 shares of the company’s stock worth $260,000 after buying an additional 12,796 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Unity Biotechnology during the first quarter worth $280,000. Northern Trust Corp boosted its position in shares of Unity Biotechnology by 2.9% during the first quarter. Northern Trust Corp now owns 236,934 shares of the company’s stock worth $1,921,000 after buying an additional 6,782 shares during the period. Citigroup Inc. boosted its position in shares of Unity Biotechnology by 57.5% during the first quarter. Citigroup Inc. now owns 10,377 shares of the company’s stock worth $84,000 after buying an additional 3,788 shares during the period. Finally, State of Wisconsin Investment Board purchased a new position in shares of Unity Biotechnology during the first quarter worth $277,000. 36.96% of the stock is owned by institutional investors.

About Unity Biotechnology

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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