Zacks Investment Research Upgrades Unity Biotechnology (UBX) to “Hold”

Unity Biotechnology (NASDAQ:UBX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, 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. “

A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald began coverage on shares of Unity Biotechnology in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $21.00 price objective for the company. Mizuho reaffirmed a “buy” rating on shares of Unity Biotechnology in a report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.17.

Shares of NASDAQ:UBX opened at $9.30 on Tuesday. The company has a market capitalization of $415.80 million and a P/E ratio of -3.66. Unity Biotechnology has a 52 week low of $7.39 and a 52 week high of $24.56.

Unity Biotechnology (NASDAQ:UBX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. On average, analysts forecast that Unity Biotechnology will post -1.95 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBX. Bank of New York Mellon Corp grew its holdings in Unity Biotechnology by 40.6% in the third quarter. Bank of New York Mellon Corp now owns 15,705 shares of the company’s stock worth $256,000 after purchasing an additional 4,532 shares during the last quarter. BlackRock Inc. grew its holdings in Unity Biotechnology by 48.1% in the third quarter. BlackRock Inc. now owns 341,974 shares of the company’s stock worth $5,571,000 after purchasing an additional 111,039 shares during the last quarter. Morgan Stanley grew its holdings in Unity Biotechnology by 178.8% in the third quarter. Morgan Stanley now owns 124,478 shares of the company’s stock worth $2,028,000 after purchasing an additional 79,836 shares during the last quarter. Vanguard Group Inc. grew its holdings in Unity Biotechnology by 100.6% in the third quarter. Vanguard Group Inc. now owns 225,708 shares of the company’s stock worth $3,677,000 after purchasing an additional 113,176 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in Unity Biotechnology by 100.6% in the third quarter. Vanguard Group Inc now owns 225,708 shares of the company’s stock worth $3,677,000 after purchasing an additional 113,176 shares during the last quarter. 36.96% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Unity Biotechnology (NASDAQ:UBX)

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