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

Unity Biotechnology (NASDAQ:UBX) had its price target lowered by Chardan Capital from $6.00 to $4.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

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 Price Performance

Unity Biotechnology stock opened at $1.18 on Tuesday. The business has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $1.51. Unity Biotechnology has a one year low of $0.94 and a one year high of $3.10. The company has a market capitalization of $19.90 million, a PE ratio of -0.90 and a beta of 1.02.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Unity Biotechnology stock. Geode Capital Management LLC grew its holdings in Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,242 shares of the company’s stock after buying an additional 14,199 shares during the quarter. Geode Capital Management LLC owned 0.97% of Unity Biotechnology worth $240,000 as of its most recent SEC filing. 29.49% of the stock is owned by institutional investors and hedge funds.

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.