Unity Biotechnology (NASDAQ:UBX) Now Covered by Analysts at Chardan Capital

Chardan Capital initiated coverage on shares of Unity Biotechnology (NASDAQ:UBX) in a report issued on Friday,Benzinga reports. The firm issued a buy rating and a $6.00 price objective on the stock.

Unity Biotechnology Stock Up 34.6 %

Shares of NASDAQ:UBX opened at $1.79 on Friday. The company’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.36. The company has a market cap of $30.16 million, a P/E ratio of -1.37 and a beta of 0.80. Unity Biotechnology has a 12-month low of $0.94 and a 12-month high of $2.02.

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, beating the consensus estimate of ($0.40) by $0.02. Equities research analysts anticipate that Unity Biotechnology will post -1.49 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Unity Biotechnology stock. Geode Capital Management LLC raised its stake in shares of 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 firm owned 163,242 shares of the company’s stock after buying an additional 14,199 shares during the period. Geode Capital Management LLC owned about 0.97% of Unity Biotechnology worth $240,000 as of its most recent SEC filing. Institutional investors 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.