Unity Biotechnology Inc. [UBX] Revenue clocked in at $5.00 million, down -61.08% YTD: What’s Next?

Unity Biotechnology Inc. [NASDAQ: UBX] stock went on a downward path that fall over -6.85% on Tuesday, amounting to a one-week price decrease of less than -58.53%. The company report on August 17, 2022 that UNITY Biotechnology Announces Pricing of Upsized Underwritten Public Offering.


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UNITY Biotechnology, Inc. (“UNITY”) (Nasdaq:UBX), a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced the pricing of an upsized underwritten public offering of 64,285,714 shares of its common stock and accompanying warrants to purchase up to 64,285,714 shares of common stock at a combined public offering price of $0.70 per share and accompanying warrant. The warrants have an exercise price of $0.85 per share, are exercisable immediately, and will expire five years following the date of issuance. The gross proceeds to UNITY from the offering are expected to be approximately $45.0 million, before underwriting discounts and commissions and offering costs. All of the securities are being offered by UNITY. The offering is expected to close on August 22, 2022, subject to customary closing conditions.

UNITY intends to use the net proceeds from the offering to fund the ongoing clinical development of UBX1325, including the BEHOLD and ENVISION studies, and other general corporate purposes, including working capital, operating expenses and capital expenditures.

Over the last 12 months, UBX stock dropped by -82.24%. The one-year Unity Biotechnology Inc. stock forecast points to a potential upside of 92.72. The average equity rating for UBX stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $39.59 million, with 69.25 million shares outstanding and 67.78 million shares in the current float. Compared to the average trading volume of 3.24M shares, UBX stock reached a trading volume of 4028799 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Unity Biotechnology Inc. [UBX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UBX shares is $7.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UBX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Unity Biotechnology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2022. While these analysts kept the previous recommendation, Mizuho raised their target price from $5 to $7. The new note on the price target was released on November 10, 2021, representing the official price target for Unity Biotechnology Inc. stock. Previously, the target price had yet another raise to $6, while Citigroup analysts kept a Buy rating on UBX stock.

The Average True Range (ATR) for Unity Biotechnology Inc. is set at 0.18, with the Price to Sales ratio for UBX stock in the period of the last 12 months amounting to 7.92. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 0.93.

UBX Stock Performance Analysis:

Unity Biotechnology Inc. [UBX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -58.53. With this latest performance, UBX shares dropped by -15.13% in over the last four-week period, additionally sinking by -37.19% over the last 6 months – not to mention a drop of -82.24% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UBX stock in for the last two-week period is set at 41.18, with the RSI for the last a single of trading hit 36.81, and the three-weeks RSI is set at 43.41 for Unity Biotechnology Inc. [UBX]. The present Moving Average for the last 50 days of trading for this stock 0.7110, while it was recorded at 0.6737 for the last single week of trading, and 1.1408 for the last 200 days.

Insight into Unity Biotechnology Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Unity Biotechnology Inc. [UBX] shares currently have an operating margin of -1184.47 and a Gross Margin at +39.80. Unity Biotechnology Inc.’s Net Margin is presently recorded at -1269.34.

Return on Equity for this stock declined to -85.13, with Return on Assets sitting at -43.18.

Unity Biotechnology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.10.

Unity Biotechnology Inc. [UBX] Insider Position Details

There are presently around $5 million, or 34.60% of UBX stock, in the hands of institutional investors. The top three institutional holders of UBX stocks are: VANGUARD GROUP INC with ownership of 1,281,673, which is approximately 13.907% of the company’s market cap and around 2.40% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 957,718 shares of the stock with an approximate value of $0.54 million in UBX stocks shares; and FMR LLC, currently with $0.53 million in UBX stock with ownership of nearly -56.373% of the company’s market capitalization.

Positions in Unity Biotechnology Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 24 institutional holders increased their position in Unity Biotechnology Inc. [NASDAQ:UBX] by around 601,355 shares. Additionally, 33 investors decreased positions by around 4,052,458 shares, while 22 investors held positions by with 4,773,520 shares. The mentioned changes placed institutional holdings at 9,427,333 shares, according to the latest SEC report filing. UBX stock had 9 new institutional investments in for a total of 116,762 shares, while 16 institutional investors sold positions of 575,981 shares during the same period.

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