Unity Biotechnology, Inc. (NASDAQ:UBX) Short Interest Up 107.1% in January

Unity Biotechnology, Inc. (NASDAQ:UBX) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 460,400 shares, a growth of 107.1% from the January 15th total of 222,300 shares. Based on an average daily trading volume, of 225,200 shares, the short-interest ratio is presently 2.0 days. Currently, 3.0% of the company’s shares are short sold.

Hedge Funds Weigh In On Unity Biotechnology

A hedge fund recently bought a new stake in Unity Biotechnology stock. Ballentine Partners LLC bought a new position in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,046 shares of the company’s stock, valued at approximately $84,000. Ballentine Partners LLC owned approximately 0.34% of Unity Biotechnology as of its most recent SEC filing. Institutional investors and hedge funds own 29.49% of the company’s stock.

Unity Biotechnology Stock Up 2.1 %

NASDAQ UBX opened at $1.98 on Friday. The firm’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.46. Unity Biotechnology has a 12 month low of $0.94 and a 12 month high of $3.10.

Analysts Set New Price Targets

Separately, Chardan Capital assumed coverage on Unity Biotechnology in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective on the 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.