Unity Biotechnology (NASDAQ:UBX) Research Coverage Started at Chardan Capital

Chardan Capital started coverage on shares of Unity Biotechnology (NASDAQ:UBX) in a research note published on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $6.00 price target on the stock.

Unity Biotechnology Stock Performance

Shares of Unity Biotechnology stock opened at $1.79 on Friday. The company has a 50-day simple moving average of $1.18 and a two-hundred day simple moving average of $1.36. Unity Biotechnology has a 52-week low of $0.94 and a 52-week high of $2.02. The stock has a market capitalization of $30.16 million, a PE ratio of -1.37 and a beta of 0.80.

Unity Biotechnology (NASDAQ:UBX) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. As a group, equities research analysts forecast that Unity Biotechnology will post -1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Unity Biotechnology

A hedge fund recently raised its stake in Unity Biotechnology stock. Geode Capital Management LLC increased its stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 163,242 shares of the company’s stock after purchasing an additional 14,199 shares during the period. Geode Capital Management LLC owned approximately 0.97% of Unity Biotechnology worth $240,000 as of its most recent filing with the Securities & Exchange Commission. 29.49% of the stock is owned by hedge funds and other institutional investors.

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.