Unity Biotechnology (NASDAQ:UBX) Coverage Initiated at Chardan Capital

Equities research analysts at Chardan Capital assumed coverage on shares of Unity Biotechnology (NASDAQ:UBX) in a research report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Chardan Capital’s price target would suggest a potential upside of 235.20% from the stock’s previous close.

Unity Biotechnology Trading Up 34.6 %

Shares of NASDAQ UBX opened at $1.79 on Friday. The stock has a market cap of $30.16 million, a price-to-earnings ratio of -1.37 and a beta of 0.80. The stock’s 50-day moving average is $1.18 and its 200 day moving average is $1.36. Unity Biotechnology has a 1-year low of $0.94 and a 1-year high of $2.02.

Unity Biotechnology (NASDAQ:UBX) last issued its earnings results on Monday, November 4th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. On average, analysts forecast that Unity Biotechnology will post -1.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

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) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 57,046 shares of the company’s stock, valued at approximately $84,000. Ballentine Partners LLC owned approximately 0.34% of Unity Biotechnology at the end of the most recent quarter. 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 2 clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.