Short Interest in Unity Biotechnology, Inc. (NASDAQ:UBX) Expands By 107.1%

Unity Biotechnology, Inc. (NASDAQ:UBX) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 460,400 shares, an increase 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 currently 2.0 days. Currently, 3.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Unity Biotechnology Trading Up 2.1 %

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

Hedge Funds Weigh In On Unity Biotechnology

A hedge fund recently raised its stake in Unity Biotechnology stock. Geode Capital Management LLC grew its stake in Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,242 shares of the company’s stock after acquiring an additional 14,199 shares during the quarter. Geode Capital Management LLC owned about 0.97% of Unity Biotechnology worth $240,000 as of its most recent SEC filing. 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.