Unity Biotechnology (NASDAQ:UBX) Earns Buy Rating from Analysts at Chardan Capital

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

Unity Biotechnology Stock Performance

Shares of UBX opened at $1.79 on Friday. The firm has a market cap of $30.16 million, a PE ratio of -1.37 and a beta of 0.80. The firm’s 50 day moving average price is $1.18 and its 200 day moving average price is $1.36. Unity Biotechnology has a twelve month low of $0.94 and a twelve month high of $2.02.

Unity Biotechnology (NASDAQ:UBX) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. On average, sell-side analysts anticipate that Unity Biotechnology will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Geode Capital Management LLC increased its position in Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,242 shares of the company’s stock after acquiring an additional 14,199 shares during the quarter. Geode Capital Management LLC owned about 0.97% of Unity Biotechnology worth $240,000 at the end of the most recent quarter. 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.