Unity Biotechnology (NASDAQ:UBX) Shares Up 13.6%

Unity Biotechnology Inc (NASDAQ:UBX)’s stock price shot up 13.6% on Friday . The stock traded as high as $9.50 and last traded at $9.50. 1,292,863 shares changed hands during mid-day trading, an increase of 507% from the average session volume of 212,825 shares. The stock had previously closed at $8.36.

A number of research firms have commented on UBX. Zacks Investment Research raised shares of Unity Biotechnology from a “sell” rating to a “hold” rating and set a $10.00 price objective for the company in a research report on Tuesday, May 14th. Mizuho reaffirmed a “buy” rating on shares of Unity Biotechnology in a research report on Wednesday, March 6th. Finally, Cantor Fitzgerald began coverage on shares of Unity Biotechnology in a research report on Wednesday, March 6th. They set an “overweight” rating and a $21.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $22.00.

The business has a 50-day simple moving average of $8.69.

Unity Biotechnology (NASDAQ:UBX) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.03. On average, research analysts anticipate that Unity Biotechnology Inc will post -1.91 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Unity Biotechnology by 5,850.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,355 shares of the company’s stock worth $43,000 after buying an additional 5,265 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Unity Biotechnology by 416.4% during the fourth quarter. Legal & General Group Plc now owns 3,863 shares of the company’s stock worth $63,000 after buying an additional 3,115 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Unity Biotechnology during the first quarter worth $105,000. Citigroup Inc. lifted its holdings in shares of Unity Biotechnology by 374.7% during the fourth quarter. Citigroup Inc. now owns 6,589 shares of the company’s stock worth $107,000 after buying an additional 5,201 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Unity Biotechnology during the fourth quarter worth $144,000. 38.21% of the stock is owned by institutional investors.

Unity Biotechnology Company Profile (NASDAQ:UBX)

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 that is in Phase 1 clinical study for musculoskeletal disease; and UBX1967 for ophthalmologic diseases. It is also developing programs in pulmonary disorders.

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