Unity Biotechnology (NASDAQ:UBX) Now Covered by Analysts at Chardan Capital

Stock analysts at Chardan Capital started coverage on shares of Unity Biotechnology (NASDAQ:UBX) in a research note issued to investors on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $6.00 price target on the stock. Chardan Capital’s price target points to a potential upside of 235.20% from the company’s previous close.

Unity Biotechnology Stock Performance

UBX stock opened at $1.79 on Friday. The firm has a 50 day moving average price of $1.18 and a 200-day moving average price of $1.36. Unity Biotechnology has a 52-week low of $0.94 and a 52-week high of $2.02. The firm has a market capitalization of $30.16 million, a price-to-earnings ratio of -1.37 and a beta of 0.80.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings data 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. As a group, sell-side analysts forecast that Unity Biotechnology will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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