Unity Biotechnology (NASDAQ:UBX) Trading 2.1% Higher – Here’s Why

Unity Biotechnology, Inc. (NASDAQ:UBX)’s share price shot up 2.1% during trading on Monday . The company traded as high as $1.50 and last traded at $1.49. 32,460 shares were traded during mid-day trading, a decline of 49% from the average session volume of 64,022 shares. The stock had previously closed at $1.46.

Wall Street Analysts Forecast Growth

UBX has been the subject of several research reports. Rodman & Renshaw began coverage on Unity Biotechnology in a research report on Thursday, August 22nd. They issued a “buy” rating and a $8.00 target price for the company. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Unity Biotechnology in a research note on Thursday, August 8th.

Unity Biotechnology Stock Up 2.1 %

The stock’s 50-day moving average price is $1.48 and its 200-day moving average price is $1.49. The company has a market capitalization of $25.02 million, a price-to-earnings ratio of -0.59 and a beta of 0.83.

Unity Biotechnology (NASDAQ:UBX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.15. On average, equities research analysts anticipate that Unity Biotechnology, Inc. will post -1.49 EPS for the current year.

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.