Unity Biotechnology (NASDAQ:UBX) Shares Down 1.8%

Unity Biotechnology, Inc. (NASDAQ:UBX)’s stock price dropped 1.8% during mid-day trading on Thursday . The company traded as low as $1.56 and last traded at $1.60. Approximately 15,774 shares were traded during trading, a decline of 80% from the average daily volume of 79,477 shares. The stock had previously closed at $1.63.

Analysts Set New Price Targets

Separately, HC Wainwright dropped their price target on shares of Unity Biotechnology from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th.

Unity Biotechnology Stock Performance

The business’s fifty day moving average is $1.57 and its 200-day moving average is $1.74. The firm has a market cap of $26.86 million, a P/E ratio of -0.54 and a beta of 0.86.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings results on Monday, April 15th. The company reported ($0.53) earnings per share (EPS) for the quarter. Analysts predict that Unity Biotechnology, Inc. will post -1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Unity Biotechnology stock. Armistice Capital LLC purchased a new stake in Unity Biotechnology, Inc. (NASDAQ:UBX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 688,000 shares of the company’s stock, valued at approximately $1,328,000. Armistice Capital LLC owned 4.10% of Unity Biotechnology as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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 II clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.