Unity Biotechnology Inc (NASDAQ:UBX) Expected to Announce Earnings of -$0.54 Per Share

Brokerages expect Unity Biotechnology Inc (NASDAQ:UBX) to report ($0.54) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Unity Biotechnology’s earnings. Unity Biotechnology posted earnings per share of ($0.48) during the same quarter last year, which would indicate a negative year-over-year growth rate of 12.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 4th.

According to Zacks, analysts expect that Unity Biotechnology will report full year earnings of ($2.00) per share for the current fiscal year, with EPS estimates ranging from ($2.07) to ($1.93). For the next fiscal year, analysts forecast that the company will report earnings of ($2.09) per share, with EPS estimates ranging from ($2.25) to ($1.93). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Unity Biotechnology.

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Unity Biotechnology in a research note on Thursday, October 17th. Mizuho reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Unity Biotechnology in a research note on Monday. ValuEngine raised Unity Biotechnology from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut Unity Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.50.

Shares of NASDAQ UBX traded down $0.12 during trading on Monday, reaching $6.81. The stock had a trading volume of 20,573 shares, compared to its average volume of 240,684. Unity Biotechnology has a fifty-two week low of $5.61 and a fifty-two week high of $17.46. The business’s 50-day moving average price is $6.76 and its 200-day moving average price is $7.47. The company has a market cap of $300.46 million, a P/E ratio of -2.68 and a beta of -0.16.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Unity Biotechnology by 18.2% during the 1st quarter. FMR LLC now owns 4,551,523 shares of the company’s stock worth $36,913,000 after purchasing an additional 700,500 shares in the last quarter. BlackRock Inc. lifted its holdings in Unity Biotechnology by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,992,613 shares of the company’s stock worth $18,929,000 after buying an additional 94,183 shares during the last quarter. EcoR1 Capital LLC lifted its holdings in Unity Biotechnology by 15.2% during the 2nd quarter. EcoR1 Capital LLC now owns 1,044,500 shares of the company’s stock worth $9,923,000 after buying an additional 137,886 shares during the last quarter. Northern Trust Corp lifted its holdings in Unity Biotechnology by 2.4% during the 2nd quarter. Northern Trust Corp now owns 242,690 shares of the company’s stock worth $2,306,000 after buying an additional 5,756 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in Unity Biotechnology by 449.0% during the 2nd quarter. Citadel Advisors LLC now owns 238,386 shares of the company’s stock worth $2,265,000 after buying an additional 194,965 shares during the last quarter. 36.77% of the stock is owned by hedge funds and other institutional investors.

About Unity Biotechnology

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 that is in Phase 1 clinical study for musculoskeletal disease; and UBX1967 for ophthalmologic diseases. It is also developing programs in pulmonary disorders.

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