Chardan Capital Reaffirms Buy Rating for Unity Biotechnology (NASDAQ:UBX)

Unity Biotechnology (NASDAQ:UBX)‘s stock had its “buy” rating reaffirmed by investment analysts at Chardan Capital in a report released on Monday,Benzinga reports. They presently have a $6.00 price target on the stock. Chardan Capital’s target price would suggest a potential upside of 257.14% from the company’s current price.

Separately, HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Unity Biotechnology in a research report on Monday.

Unity Biotechnology Price Performance

Shares of UBX stock opened at $1.68 on Monday. Unity Biotechnology has a one year low of $0.94 and a one year high of $3.10. The stock has a fifty day moving average price of $1.84 and a 200 day moving average price of $1.51. The stock has a market cap of $28.31 million, a P/E ratio of -1.28 and a beta of 1.02.

Institutional Trading of Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Bridgeway Capital Management LLC grew its position in Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Bridgeway Capital Management LLC owned 0.30% of Unity Biotechnology worth $49,000 at the end of the most recent reporting period. 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.