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

Unity Biotechnology, Inc. (NASDAQ:UBX) shares shot up 3.1% on Wednesday . The stock traded as high as $2.34 and last traded at $2.30. 126,334 shares were traded 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 Analysts Forecast Growth

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

Unity Biotechnology Stock Performance

The company’s fifty day moving average price is $1.52 and its two-hundred day moving average price is $1.45. The firm has a market capitalization of $36.06 million, a PE ratio of -1.63 and a beta of 0.91.

Unity Biotechnology (NASDAQ:UBX) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. On average, equities analysts expect that Unity Biotechnology, Inc. will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On Unity Biotechnology

A hedge fund recently bought a new stake in Unity Biotechnology stock. Ballentine Partners LLC bought a new stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 57,046 shares of the company’s stock, valued at approximately $84,000. Ballentine Partners LLC owned approximately 0.34% of Unity Biotechnology at the end of the most recent quarter. Institutional investors own 29.49% of the company’s stock.

Unity Biotechnology Company Profile

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.