Shares of Unity Biotechnology, Inc. (NASDAQ:UBX – Get Free Report) rose 2.9% during trading on Friday . The stock traded as high as $1.48 and last traded at $1.44. Approximately 45,159 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 67,413 shares. The stock had previously closed at $1.40.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on UBX. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Unity Biotechnology in a research note on Thursday, August 8th. Rodman & Renshaw initiated coverage on Unity Biotechnology in a research report on Thursday, August 22nd. They issued a “buy” rating and a $8.00 price objective for the company.
Read Our Latest Research Report on Unity Biotechnology
Unity Biotechnology Stock Performance
Unity Biotechnology (NASDAQ:UBX – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.15. As a group, analysts forecast that Unity Biotechnology, Inc. will post -1.49 EPS for the current fiscal year.
Hedge Funds Weigh In On Unity Biotechnology
An institutional investor recently bought a new position in Unity Biotechnology stock. Armistice Capital LLC bought a new stake in Unity Biotechnology, Inc. (NASDAQ:UBX – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 688,000 shares of the company’s stock, valued at approximately $1,328,000. Armistice Capital LLC owned about 4.10% of Unity Biotechnology as of its most recent SEC filing. Institutional investors and hedge funds 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.
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