Unity Biotechnology, Inc. (NASDAQ:UBX) Expected to Post Q1 2024 Earnings of ($0.57) Per Share

Unity Biotechnology, Inc. (NASDAQ:UBX) – HC Wainwright issued their Q1 2024 earnings estimates for Unity Biotechnology in a research note issued to investors on Tuesday, April 16th. HC Wainwright analyst M. Caufield anticipates that the company will earn ($0.57) per share for the quarter. 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 ($2.66) per share. HC Wainwright also issued estimates for Unity Biotechnology’s Q2 2024 earnings at ($0.59) EPS, Q3 2024 earnings at ($0.62) EPS, Q4 2024 earnings at ($0.64) EPS and FY2028 earnings at $0.29 EPS.

Unity Biotechnology Stock Performance

Shares of Unity Biotechnology stock opened at $1.51 on Wednesday. Unity Biotechnology has a 52 week low of $1.50 and a 52 week high of $3.82. The firm has a fifty day moving average of $1.66 and a two-hundred day moving average of $1.78. The stock has a market capitalization of $25.35 million, a price-to-earnings ratio of -0.51 and a beta of 0.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new position in Unity Biotechnology in the first quarter valued at about $142,000. Wells Fargo & Company MN grew 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 valued at $111,000 after purchasing an additional 43,346 shares during the period. Dimensional Fund Advisors LP raised its holdings in Unity Biotechnology by 123.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 67,899 shares of the company’s stock worth $111,000 after buying an additional 37,473 shares during the period. State Street Corp lifted its stake in Unity Biotechnology by 21.0% in the second quarter. State Street Corp now owns 130,440 shares of the company’s stock valued at $74,000 after buying an additional 22,600 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Unity Biotechnology by 53.1% in the first quarter. Commonwealth Equity Services LLC now owns 24,512 shares of the company’s stock valued at $39,000 after buying an additional 8,499 shares during the period. Institutional investors own 29.49% 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.