HC Wainwright Reiterates Buy Rating for Unity Biotechnology (NASDAQ:UBX)

HC Wainwright reiterated their buy rating on shares of Unity Biotechnology (NASDAQ:UBX) in a research report released on Thursday, Benzinga reports. HC Wainwright currently has a $8.00 price target 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 Stock Down 2.7 %

Shares of NASDAQ UBX traded down $0.04 during trading hours on Thursday, reaching $1.44. 17,667 shares of the stock traded hands, compared to its average volume of 70,528. The company has a market capitalization of $24.18 million, a P/E ratio of -0.57 and a beta of 0.84. The company’s 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $1.56. Unity Biotechnology has a 52-week low of $1.22 and a 52-week high of $2.67.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings data 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. As a group, sell-side analysts forecast that Unity Biotechnology will post -1.74 earnings per share 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 acquired a new stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 quarter. 29.49% 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 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.