Unity Biotechnology (NASDAQ:UBX) Trading Up 3.1% – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Unity Biotechnology Stock Up 3.1 %

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

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

Institutional Trading of Unity Biotechnology

An institutional investor recently bought a new position in Unity Biotechnology stock. Ballentine Partners LLC purchased a new position in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,046 shares of the company’s stock, valued at approximately $84,000. Ballentine Partners LLC owned about 0.34% of Unity Biotechnology at the end of the most recent reporting period. 29.49% of the stock is owned by hedge funds and other institutional investors.

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.