Unity Biotechnology (NASDAQ:UBX) Downgraded by Zacks Investment Research to Hold

Unity Biotechnology (NASDAQ:UBX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “UNITY Biotechnology Inc. develops therapeutics which prevents, halts and reverses various diseases. The company’s product portfolio includes UBX101, is designed to treat musculoskeletal disease with an initial focus on osteoarthritis. UNITY Biotechnology Inc. is based in California, United States. “

Several other equities analysts have also recently commented on UBX. Mizuho upped their target price on shares of Unity Biotechnology from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, March 26th. Citigroup cut shares of Unity Biotechnology from a “neutral” rating to a “sell” rating and upped their target price for the company from $5.00 to $6.00 in a research note on Tuesday, February 16th. Finally, HC Wainwright began coverage on shares of Unity Biotechnology in a research note on Monday. They set a “buy” rating and a $12.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $5.89.

Shares of Unity Biotechnology stock opened at $4.70 on Friday. The business has a fifty day moving average price of $4.92. Unity Biotechnology has a 1-year low of $2.72 and a 1-year high of $15.44. The firm has a market capitalization of $257.82 million, a PE ratio of -3.01 and a beta of 0.23.

Unity Biotechnology (NASDAQ:UBX) last released its earnings results on Wednesday, May 12th. The company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.09. As a group, equities research analysts anticipate that Unity Biotechnology will post -1.44 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in Unity Biotechnology by 7.2% in the 4th quarter. Rhumbline Advisers now owns 38,913 shares of the company’s stock valued at $204,000 after buying an additional 2,600 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Unity Biotechnology by 15.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 24,062 shares of the company’s stock worth $126,000 after purchasing an additional 3,218 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Unity Biotechnology by 26.5% in the 4th quarter. ProShare Advisors LLC now owns 16,016 shares of the company’s stock worth $84,000 after purchasing an additional 3,359 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Unity Biotechnology by 14.7% in the 1st quarter. Citigroup Inc. now owns 26,405 shares of the company’s stock worth $159,000 after purchasing an additional 3,376 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Unity Biotechnology by 3.2% in the 4th quarter. Nuveen Asset Management LLC now owns 112,471 shares of the company’s stock worth $589,000 after purchasing an additional 3,521 shares during the last quarter. 37.01% of the stock is currently 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 include UBX1325, which is Phase I clinical trial for the treatment of age-related diseases of the eye, including age-related macular degeneration, diabetic macular edema, and diabetic retinopathy.

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