Unity Biotechnology (NASDAQ:UBX) Trading 3.1% Higher – Time to Buy?

Unity Biotechnology, Inc. (NASDAQ:UBX)’s stock price traded up 3.1% during mid-day trading on Wednesday . The stock traded as high as $2.34 and last traded at $2.30. 126,334 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 443,488 shares. The stock had previously closed at $2.23.

Wall Street Analyst Weigh In

Separately, Chardan Capital began coverage on shares of Unity Biotechnology in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 target price on the stock.

Unity Biotechnology Trading Up 3.1 %

The firm has a market cap of $38.76 million, a PE ratio of -1.76 and a beta of 0.90. The company has a 50 day moving average price of $1.49 and a 200 day moving average price of $1.44.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. As a group, equities research analysts anticipate that Unity Biotechnology, Inc. will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Geode Capital Management LLC raised its position in Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,242 shares of the company’s stock after purchasing an additional 14,199 shares during the period. Geode Capital Management LLC owned about 0.97% of Unity Biotechnology worth $240,000 at the end of the most recent reporting period. Hedge funds and other 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 2 clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.