Unity Biotechnology Inc’s Lock-Up Period Set To End on October 30th (NASDAQ:UBX)
Unity Biotechnology’s (NASDAQ:UBX) lock-up period is set to end on Tuesday, October 30th. Unity Biotechnology had issued 5,000,000 shares in its initial public offering on May 3rd. The total size of the offering was $85,000,000 based on an initial share price of $17.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
Several research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Unity Biotechnology from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Mizuho assumed coverage on shares of Unity Biotechnology in a report on Thursday, September 6th. They set a “buy” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $25.00.
Shares of Unity Biotechnology stock opened at $10.95 on Tuesday. Unity Biotechnology has a 1 year low of $10.55 and a 1 year high of $24.56.
Several institutional investors have recently modified their holdings of UBX. Baillie Gifford & Co. purchased a new position in shares of Unity Biotechnology during the second quarter worth $57,274,000. FMR LLC acquired a new stake in Unity Biotechnology during the second quarter valued at $49,015,000. Partner Fund Management L.P. acquired a new stake in Unity Biotechnology during the second quarter valued at $11,458,000. NF Trinity Capital Hong Kong Ltd acquired a new stake in Unity Biotechnology during the second quarter valued at $9,157,000. Finally, Partner Investment Management L.P. acquired a new stake in Unity Biotechnology during the second quarter valued at $4,079,000. 30.25% of the stock is owned by hedge funds and other institutional investors.
About Unity Biotechnology
Unity Biotechnology, Inc, a preclinical biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 for musculoskeletal disease with an initial focus on osteoarthritis; and UBX1967 for ophthalmologic diseases.
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