Unity Biotechnology, Inc. (NASDAQ:UBX – Free Report) – Stock analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for Unity Biotechnology in a research report issued on Tuesday, July 11th. Cantor Fitzgerald analyst J. Kim forecasts that the company will post earnings per share of ($3.61) for the year. The consensus estimate for Unity Biotechnology’s current full-year earnings is ($3.41) per share.
UBX has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Unity Biotechnology in a research report on Tuesday, March 28th. Citigroup lifted their price objective on Unity Biotechnology from $5.00 to $6.00 in a research report on Friday, May 26th. Mizuho reduced their target price on Unity Biotechnology from $12.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, March 28th. Finally, Wedbush cut Unity Biotechnology from an “outperform” rating to a “neutral” rating in a research note on Monday, June 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Unity Biotechnology currently has an average rating of “Moderate Buy” and a consensus price target of $6.75.
Unity Biotechnology Stock Performance
Unity Biotechnology (NASDAQ:UBX – Get Free Report) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.34.
Hedge Funds Weigh In On Unity Biotechnology
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Unity Biotechnology by 246.2% in the third quarter. Vanguard Group Inc. now owns 4,437,259 shares of the company’s stock valued at $1,753,000 after acquiring an additional 3,155,586 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Unity Biotechnology by 65.2% during the 3rd quarter. Renaissance Technologies LLC now owns 1,582,369 shares of the company’s stock valued at $625,000 after purchasing an additional 624,651 shares in the last quarter. Mayo Clinic acquired a new stake in Unity Biotechnology in the 4th quarter valued at approximately $431,000. Acadian Asset Management LLC raised its position in Unity Biotechnology by 39.8% in the 1st quarter. Acadian Asset Management LLC now owns 389,893 shares of the company’s stock valued at $435,000 after buying an additional 111,097 shares during the last quarter. Finally, Maven Securities LTD acquired a new position in shares of Unity Biotechnology during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 24.19% of the company’s stock.
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 II clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.
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