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

HC Wainwright reiterated their buy rating on shares of Unity Biotechnology (NASDAQ:UBX) in a report released on Thursday morning, Benzinga reports. HC Wainwright currently has a $8.00 price objective 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 Performance

Shares of 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 1-year low of $1.22 and a 1-year high of $2.67. The company has a 50 day moving average price of $1.45 and a 200 day moving average price of $1.56.

Unity Biotechnology (NASDAQ:UBX) last issued its 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. On average, sell-side analysts expect that Unity Biotechnology will post -1.74 EPS for the current fiscal year.

Institutional Investors 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 Unity Biotechnology, Inc. (NASDAQ:UBX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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 hedge funds and other 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.