Unity Biotechnology (NASDAQ:UBX) Stock Price Down 2.1%

Shares of Unity Biotechnology, Inc. (NASDAQ:UBX) fell 2.1% during mid-day trading on Wednesday . The stock traded as low as $1.36 and last traded at $1.38. 34,180 shares changed hands during trading, a decline of 56% from the average session volume of 78,525 shares. The stock had previously closed at $1.41.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Unity Biotechnology in a report on Wednesday, May 15th.

Unity Biotechnology Stock Down 2.1 %

The firm has a fifty day moving average price of $1.51 and a 200-day moving average price of $1.64. The firm has a market cap of $23.17 million, a price-to-earnings ratio of -0.55 and a beta of 0.91.

Unity Biotechnology (NASDAQ:UBX) last issued its earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.23. Equities research analysts anticipate that Unity Biotechnology, Inc. will post -1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Unity Biotechnology stock. Armistice Capital LLC acquired a new stake in Unity Biotechnology, Inc. (NASDAQ:UBX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 688,000 shares of the company’s stock, valued at approximately $1,328,000. Armistice Capital LLC owned 4.10% of Unity Biotechnology at the end of the most recent reporting period. Hedge funds and other 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.