Unity Biotechnology (NASDAQ:UBX) Trading Down 5.6% – Here’s What Happened

Unity Biotechnology, Inc. (NASDAQ:UBX)’s share price was down 5.6% during trading on Tuesday . The stock traded as low as $1.02 and last traded at $1.02. Approximately 120,024 shares traded hands during mid-day trading, an increase of 83% from the average daily volume of 65,725 shares. The stock had previously closed at $1.08.

Wall Street Analysts Forecast Growth

Separately, Rodman & Renshaw initiated coverage on Unity Biotechnology in a research report on Thursday, August 22nd. They set a “buy” rating and a $8.00 target price for the company.

Unity Biotechnology Stock Performance

The firm has a market capitalization of $16.34 million, a P/E ratio of -0.74 and a beta of 0.77. The stock’s 50 day simple moving average is $1.24 and its 200 day simple moving average is $1.39.

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

Institutional Trading of Unity Biotechnology

An institutional investor recently bought a new position in Unity Biotechnology stock. Ballentine Partners LLC acquired a new stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 57,046 shares of the company’s stock, valued at approximately $84,000. Ballentine Partners LLC owned 0.34% 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.