Unity Biotechnology (NASDAQ:UBX) Shares Down 26.5% – What’s Next?

Unity Biotechnology, Inc. (NASDAQ:UBX) was down 26.5% during trading on Wednesday . The stock traded as low as $1.24 and last traded at $1.33. Approximately 457,354 shares were traded during trading, a decline of 27% from the average daily volume of 628,711 shares. The stock had previously closed at $1.81.

Unity Biotechnology Stock Down 26.5 %

The firm has a market cap of $22.41 million, a PE ratio of -1.02 and a beta of 0.80. The company’s 50 day moving average price is $1.18 and its two-hundred day moving average price is $1.36.

Unity Biotechnology (NASDAQ:UBX) last issued its earnings results on Monday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.02. On average, analysts expect that Unity Biotechnology, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of Unity Biotechnology

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