Shares of Unity Biotechnology, Inc. (NASDAQ:UBX) dropped 9.8% during mid-day trading on Tuesday . The company traded as low as $6.52 and last traded at $6.98. Approximately 1,064,963 shares changed hands during trading, an increase of 4% from the average daily volume of 1,025,436 shares. The stock had previously closed at $7.74.
UBX has been the subject of a number of recent analyst reports. Citigroup cut shares of Unity Biotechnology from a “neutral” rating to a “sell” rating and upped their price target for the company from $5.00 to $6.00 in a report on Tuesday, February 16th. Zacks Investment Research cut shares of Unity Biotechnology from a “buy” rating to a “hold” rating in a report on Thursday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Unity Biotechnology has an average rating of “Hold” and a consensus target price of $5.04.
The stock’s 50-day moving average price is $6.95 and its 200 day moving average price is $5.38. The firm has a market cap of $369.33 million, a price-to-earnings ratio of -3.56 and a beta of 0.36.
In related news, President Nathaniel E. David sold 1,700,000 shares of the stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $5.24, for a total value of $8,908,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 37.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of UBX. FMR LLC increased its holdings in shares of Unity Biotechnology by 18.2% during the first quarter. FMR LLC now owns 4,551,523 shares of the company’s stock worth $36,913,000 after buying an additional 700,500 shares in the last quarter. Founders Fund V Management LLC bought a new stake in shares of Unity Biotechnology during the fourth quarter valued at approximately $2,577,000. EcoR1 Capital LLC bought a new stake in shares of Unity Biotechnology during the third quarter valued at approximately $1,024,000. BlackRock Inc. grew its stake in shares of Unity Biotechnology by 6.6% during the fourth quarter. BlackRock Inc. now owns 2,881,653 shares of the company’s stock valued at $15,100,000 after purchasing an additional 179,028 shares during the last quarter. Finally, Caas Capital Management LP bought a new stake in shares of Unity Biotechnology during the fourth quarter valued at approximately $865,000. 37.21% of the stock is owned by institutional investors.
Unity Biotechnology Company Profile (NASDAQ:UBX)
Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 that is in Phase II clinical trial for musculoskeletal/ osteoarthritis disease, as well as Phase Ib clinical trial for moderate-to-severe osteoarthritis of the knee; UBX1325, which is Phase I clinical trial for the treatment of diabetic macular edema; and UBX1967 for the treatment of ophthalmologic diseases.
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