Unity Biotechnology (NASDAQ:UBX) Shares Up 3.5% – What’s Next?

Unity Biotechnology, Inc. (NASDAQ:UBX)’s stock price was up 3.5% during trading on Thursday . The company traded as high as $1.79 and last traded at $1.76. Approximately 88,451 shares traded hands during trading, a decline of 71% from the average daily volume of 304,516 shares. The stock had previously closed at $1.70.

Wall Street Analyst Weigh In

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

Unity Biotechnology Stock Down 4.5 %

The stock has a fifty day simple moving average of $1.82 and a 200-day simple moving average of $1.50. The company has a market capitalization of $28.31 million, a P/E ratio of -1.28 and a beta of 1.02.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Unity Biotechnology stock. Bridgeway Capital Management LLC grew its holdings in Unity Biotechnology, Inc. (NASDAQ:UBX) by 100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Bridgeway Capital Management LLC owned about 0.30% of Unity Biotechnology worth $49,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 29.49% of the company’s 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.