Unity Biotechnology, Inc. (NASDAQ:UBX) shares dropped 9.8% during trading on Tuesday . The company traded as low as $6.52 and last traded at $6.98. Approximately 1,064,963 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 1,025,436 shares. The stock had previously closed at $7.74.
UBX has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Unity Biotechnology from a “buy” rating to a “hold” rating in a research report on Thursday, February 4th. Citigroup downgraded shares of Unity Biotechnology from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $5.00 to $6.00 in a research report on Tuesday, February 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Unity Biotechnology presently has a consensus rating of “Hold” and an average target price of $5.04.
The firm has a market cap of $369.33 million, a P/E ratio of -3.56 and a beta of 0.36. The firm’s fifty day moving average is $6.95 and its 200 day moving average is $5.38.
In related news, President Nathaniel E. David sold 1,700,000 shares of Unity Biotechnology stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $5.24, for a total transaction of $8,908,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 37.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in Unity Biotechnology in the 4th quarter valued at about $56,000. JPMorgan Chase & Co. increased its position in Unity Biotechnology by 698.4% during the 4th quarter. JPMorgan Chase & Co. now owns 103,725 shares of the company’s stock worth $543,000 after purchasing an additional 90,734 shares in the last quarter. Jane Street Group LLC increased its position in Unity Biotechnology by 142.3% during the 4th quarter. Jane Street Group LLC now owns 102,908 shares of the company’s stock worth $539,000 after purchasing an additional 60,434 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Unity Biotechnology during the 4th quarter worth approximately $155,000. Finally, Founders Fund V Management LLC acquired a new position in Unity Biotechnology during the 4th quarter worth approximately $2,577,000. 37.21% of the stock is owned by hedge funds and other 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 II clinical trial for musculoskeletal/ osteoarthritis disease, as well as Phase Ib clinical trial for moderate-to-severe osteoarthritis of the knee; UBX1325, which is Phase I clinical trial for the treatment of diabetic macular edema; and UBX1967 for the treatment of ophthalmologic diseases.
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