Unity Biotechnology (NASDAQ:UBX) Price Target Lowered to $4.00 at Chardan Capital

Unity Biotechnology (NASDAQ:UBX) had its price objective decreased by research analysts at Chardan Capital from $6.00 to $4.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s price target would suggest a potential upside of 207.69% from the stock’s previous close.

Separately, HC Wainwright lowered their price objective on shares of Unity Biotechnology from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Monday.

Unity Biotechnology Stock Down 28.8 %

Shares of Unity Biotechnology stock opened at $1.30 on Tuesday. The firm has a market capitalization of $21.93 million, a P/E ratio of -0.99 and a beta of 1.02. Unity Biotechnology has a 52 week low of $0.94 and a 52 week high of $3.10. The company has a 50 day moving average price of $1.91 and a 200 day moving average price of $1.51.

Institutional Trading of Unity Biotechnology

A hedge fund recently raised its stake in Unity Biotechnology stock. Bridgeway Capital Management LLC increased its holdings in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Bridgeway Capital Management LLC owned approximately 0.30% of Unity Biotechnology worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 29.49% of the company’s stock.

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.