Chardan Capital Issues Pessimistic Forecast for Unity Biotechnology (NASDAQ:UBX) Stock Price

Unity Biotechnology (NASDAQ:UBX) had its price objective reduced by Chardan Capital from $6.00 to $4.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

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

Unity Biotechnology Trading Down 1.7 %

NASDAQ:UBX opened at $1.18 on Tuesday. The firm has a market cap of $19.90 million, a P/E ratio of -0.90 and a beta of 1.02. Unity Biotechnology has a 12-month low of $0.94 and a 12-month high of $3.10. The stock’s 50 day simple moving average is $1.88 and its 200-day simple moving average is $1.51.

Institutional Trading of Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Bridgeway Capital Management LLC raised its holdings in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after buying an additional 25,000 shares during the period. Bridgeway Capital Management LLC owned about 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.

Unity Biotechnology Company Profile

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.