Fidelity Management & Research Co.. recently announced the acquisition of new stake in Unity Biotechnology Inc. (NASDAQ:UBX). The institutional investor has increased its shareholding in the Healthcare company by 6.06% to 6.1 million shares with purchase of 0.35 million shares. This fresh investment now brings its stake to 12.41% valued currently at $57.51 million. In addition, BlackRock Fund Advisors raised its holdings by 0.61 million to 2.53 million shares. And The Vanguard Group, Inc. has lifted its position by 27.21% or 0.29 million shares – to 1.37 million shares.
With over 1.05 million Unity Biotechnology Inc. (UBX) shares trading Friday and a closing price of $3.02 on the day, the dollar volume was approximately $3.17 million. The shares have shown a positive weekly performance of 1.34% and its price on 08/28/20 lost nearly -2.89%. Currently, there are 49.66M common shares owned by the public and among those 43.44M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for UBX have a consensus price objective of $5.67. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Unity Biotechnology Inc. stock is 2.80 for the next 12 months. But an upside of 74.83% will see the stock hit the forecast high price target while mean target price for the stock is $4.50.
Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 939,326 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 517,126 shares.
The top 3 mutual fund holders in Unity Biotechnology Inc. are Scottish Mortgage Investment Trus, Fidelity Growth Company Fund, and American Funds Small Cap World Fu. Scottish Mortgage Investment Trus owns 3.21 million shares of the company’s stock, all valued at over $30.27 million. The company sold 3939.0 shares recently to bring their total holdings to about 6.53% of the shares outstanding. Fidelity Growth Company Fund sold 7099.0 shares to see its total holdings shrink to 2.68 million shares valued at over $25.3 million and representing 5.46% of the shares outstanding. American Funds Small Cap World Fu now owns shares totaling to 3.73% of the shares outstanding.
Shares of Unity Biotechnology Inc. (NASDAQ: UBX) opened at $3.07, down -$0.04 from a prior closing price of $3.11. However, the script later closed the day at $3.02, down -2.89%. The company’s stock has a 5-day price change of 1.34% and -67.80% over the past three months. UBX shares are trading -58.11% year to date (YTD), with the 12-month market performance down to -49.67% lower. It has a 12-month low price of $2.72 and touched a high of $15.44 over the same period. Currently, 1.05 million shares have been traded, compared to an average intraday trading volume of 1.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -59.76%, -63.24%, and -57.96% respectively.
Institutional ownership of Unity Biotechnology Inc. (NASDAQ: UBX) shares accounts for 76.30% of the company’s 49.66M shares outstanding. Mutual fund holders own 28.80%, while other institutional holders and individual stakeholders account for 29.59% and 14.39% respectively.
It has a market capitalization of $161.81M. The earnings-per-share (ttm) stands at -$1.86. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.19% over the week and 12.24% over the month.
Analysts forecast that Unity Biotechnology Inc. (UBX) will achieve an EPS of -$0.5 for the current quarter, -$0.54 for the next quarter and -$1.7 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.57 while analysts give the company a high EPS estimate of -$0.44. Comparatively, EPS for the current quarter was -$0.51 a year ago. Earnings per share for the fiscal year are expected to increase by 30.30%, and 23.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Unity Biotechnology Inc. (UBX) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the UBX, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on August 18, 2020, with the firm’s price target at $5. Mizuho coverage for the Unity Biotechnology Inc. (UBX) stock in a research note released on August 18, 2020 offered a Neutral rating with a price target of $4. Citigroup was of a view on August 18, 2020 that the stock is Neutral, while ROTH Capital gave the stock Neutral rating on August 17, 2020, issuing a price target of. ROTH Capital on their part issued Buy rating on July 28, 2020.