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

Unity Biotechnology, Inc. (NASDAQ:UBX) shares traded down 5.6% on Tuesday . The stock traded as low as $1.02 and last traded at $1.02. 120,024 shares were traded during trading, an increase of 83% from the average session volume of 65,725 shares. The stock had previously closed at $1.08.

Wall Street Analyst Weigh In

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

Unity Biotechnology Stock Down 3.0 %

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 has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $1.39.

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. Research analysts anticipate that Unity Biotechnology, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Unity Biotechnology

A hedge fund recently bought a new stake in Unity Biotechnology stock. Ballentine Partners LLC bought a new stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 57,046 shares of the company’s stock, valued at approximately $84,000. Ballentine Partners LLC owned 0.34% of Unity Biotechnology at the end of the most recent reporting period. 29.49% of the stock is owned by 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.