Unity Biotechnology (NASDAQ:UBX) Earns Buy Rating from Analysts at Chardan Capital

Chardan Capital initiated coverage on shares of Unity Biotechnology (NASDAQ:UBX) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Chardan Capital’s target price indicates a potential upside of 351.13% from the stock’s current price.

Unity Biotechnology Trading Down 26.5 %

Unity Biotechnology stock opened at $1.33 on Friday. Unity Biotechnology has a 52 week low of $0.94 and a 52 week high of $2.02. The stock has a market cap of $22.41 million, a P/E ratio of -1.02 and a beta of 0.80. The stock has a 50 day moving average of $1.18 and a 200-day moving average of $1.36.

Unity Biotechnology (NASDAQ:UBX) last issued its 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. As a group, equities analysts predict that Unity Biotechnology will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of Unity Biotechnology

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

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.