Unity Biotechnology (NASDAQ:UBX) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Unity Biotechnology (NASDAQ:UBX) from a hold rating to a buy rating in a report published on Thursday, ValuEngine reports.

A number of other equities research analysts have also recently issued reports on UBX. Morgan Stanley set a $14.00 price objective on Unity Biotechnology and gave the stock a buy rating in a report on Monday, July 15th. Zacks Investment Research upgraded Unity Biotechnology from a sell rating to a hold rating and set a $10.00 price target for the company in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $19.50.

Shares of UBX traded down $0.27 during trading hours on Thursday, hitting $6.80. 253,901 shares of the company were exchanged, compared to its average volume of 276,027. The company’s 50 day simple moving average is $8.23. Unity Biotechnology has a 52 week low of $6.42 and a 52 week high of $24.56.

Unity Biotechnology (NASDAQ:UBX) last issued its earnings results on Wednesday, May 8th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.03. On average, research analysts predict that Unity Biotechnology will post -1.91 EPS for the current year.

Several large investors have recently made changes to their positions in the company. FMR LLC boosted its position in Unity Biotechnology by 18.2% during the first quarter. FMR LLC now owns 4,551,523 shares of the company’s stock valued at $36,913,000 after acquiring an additional 700,500 shares during the last quarter. BlackRock Inc. increased its stake in Unity Biotechnology by 441.2% in the 4th quarter. BlackRock Inc. now owns 1,850,882 shares of the company’s stock valued at $30,095,000 after buying an additional 1,508,908 shares during the last quarter. Northern Trust Corp increased its stake in Unity Biotechnology by 293.7% in the 4th quarter. Northern Trust Corp now owns 230,152 shares of the company’s stock valued at $3,742,000 after buying an additional 171,696 shares during the last quarter. Geode Capital Management LLC increased its stake in Unity Biotechnology by 151.0% in the 4th quarter. Geode Capital Management LLC now owns 145,488 shares of the company’s stock valued at $2,365,000 after buying an additional 87,519 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Unity Biotechnology by 273.3% in the 4th quarter. Bank of New York Mellon Corp now owns 58,620 shares of the company’s stock valued at $953,000 after buying an additional 42,915 shares during the last quarter. Institutional investors own 38.21% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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