HC Wainwright Reaffirms “Buy” Rating for Unity Biotechnology (NASDAQ:UBX)

HC Wainwright restated their buy rating on shares of Unity Biotechnology (NASDAQ:UBX) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $8.00 target price on the stock. HC Wainwright also issued estimates for Unity Biotechnology’s Q3 2024 earnings at ($0.40) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.49) EPS, FY2025 earnings at ($1.71) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at $0.20 EPS and FY2028 earnings at $0.75 EPS.

Unity Biotechnology Trading Down 2.7 %

NASDAQ UBX opened at $1.44 on Thursday. The stock has a market capitalization of $24.18 million, a price-to-earnings ratio of -0.57 and a beta of 0.84. Unity Biotechnology has a twelve month low of $1.22 and a twelve month high of $2.67. The stock has a 50-day moving average of $1.45 and a 200 day moving average of $1.56.

Unity Biotechnology (NASDAQ:UBX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.15. Equities analysts predict that Unity Biotechnology will post -1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Unity Biotechnology

A hedge fund recently bought a new stake in Unity Biotechnology stock. Armistice Capital LLC bought a new stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 688,000 shares of the company’s stock, valued at approximately $1,328,000. Armistice Capital LLC owned about 4.10% of Unity Biotechnology at the end of the most recent reporting period. 29.49% of the stock is 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.