Equities Analysts Issue Forecasts for Unity Biotechnology, Inc.’s FY2024 Earnings (NASDAQ:UBX)

Unity Biotechnology, Inc. (NASDAQ:UBX) – HC Wainwright raised their FY2024 earnings per share (EPS) estimates for Unity Biotechnology in a research note issued to investors on Tuesday, April 16th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings per share of ($2.42) for the year, up from their prior forecast of ($3.83). HC Wainwright has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for Unity Biotechnology’s current full-year earnings is ($2.66) 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 Price Performance

Unity Biotechnology stock opened at $1.51 on Thursday. The firm has a market capitalization of $25.35 million, a P/E ratio of -0.51 and a beta of 0.87. Unity Biotechnology has a one year low of $1.50 and a one year high of $3.82. The business has a fifty day moving average price of $1.66 and a 200-day moving average price of $1.78.

Institutional Investors Weigh In On Unity Biotechnology

Several hedge funds have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new position in Unity Biotechnology during the 1st quarter valued at about $142,000. Wells Fargo & Company MN boosted its position in shares of Unity Biotechnology by 28,706.0% in the 2nd quarter. Wells Fargo & Company MN now owns 43,497 shares of the company’s stock worth $111,000 after purchasing an additional 43,346 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Unity Biotechnology by 123.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 67,899 shares of the company’s stock worth $111,000 after purchasing an additional 37,473 shares in the last quarter. State Street Corp lifted its position in Unity Biotechnology by 21.0% in the 2nd quarter. State Street Corp now owns 130,440 shares of the company’s stock valued at $74,000 after acquiring an additional 22,600 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Unity Biotechnology by 53.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 24,512 shares of the company’s stock valued at $39,000 after acquiring an additional 8,499 shares in the last quarter. 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.