FY2024 EPS Estimates for Unity Biotechnology, Inc. Boosted by Analyst (NASDAQ:UBX)

Unity Biotechnology, Inc. (NASDAQ:UBX) – Analysts at HC Wainwright increased their FY2024 earnings estimates for shares of Unity Biotechnology in a research report issued on Tuesday, April 16th. HC Wainwright analyst M. Caufield now expects that the company will earn ($2.42) per share for the year, up from their previous estimate of ($3.83). HC Wainwright has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for Unity Biotechnology’s current full-year earnings is ($1.96) per share. HC Wainwright also issued estimates for Unity Biotechnology’s FY2025 earnings at ($2.52) EPS, FY2026 earnings at ($1.30) EPS and FY2027 earnings at ($0.29) EPS.

Unity Biotechnology Stock Performance

Shares of UBX stock opened at $1.50 on Thursday. The company has a market capitalization of $25.19 million, a price-to-earnings ratio of -0.51 and a beta of 0.87. The company’s 50-day moving average is $1.65 and its 200 day moving average is $1.77. Unity Biotechnology has a one year low of $1.50 and a one year high of $3.82.

Hedge Funds Weigh In On Unity Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of UBX. Two Sigma Investments LP bought a new position in Unity Biotechnology during the 1st quarter valued at about $32,000. Virtu Financial LLC lifted its stake in Unity Biotechnology by 25.4% during the 2nd quarter. Virtu Financial LLC now owns 62,640 shares of the company’s stock valued at $35,000 after acquiring an additional 12,681 shares during the period. Jane Street Group LLC bought a new position in Unity Biotechnology during the 4th quarter valued at about $37,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Unity Biotechnology in the 4th quarter worth approximately $38,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Unity Biotechnology by 53.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 24,512 shares of the company’s stock worth $39,000 after purchasing an additional 8,499 shares during the period. Institutional investors own 29.49% of the company’s stock.

About Unity Biotechnology

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.