Unity Biotechnology, Inc. (NASDAQ:UBX) Short Interest Update

Unity Biotechnology, Inc. (NASDAQ:UBX) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 460,400 shares, an increase of 107.1% from the January 15th total of 222,300 shares. Based on an average trading volume of 225,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.0% of the company’s shares are sold short.

Unity Biotechnology Price Performance

Shares of NASDAQ UBX traded up $0.21 during mid-day trading on Friday, hitting $2.19. The company had a trading volume of 196,772 shares, compared to its average volume of 359,605. The company has a market capitalization of $36.90 million, a PE ratio of -1.67 and a beta of 0.91. The business’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $1.47. Unity Biotechnology has a 1-year low of $0.94 and a 1-year high of $3.10.

Analyst Upgrades and Downgrades

Separately, Chardan Capital assumed coverage on shares of Unity Biotechnology in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 price target on the stock.

Institutional Investors Weigh In On Unity Biotechnology

An institutional investor recently raised its position in Unity Biotechnology stock. Geode Capital Management LLC lifted its stake in shares of Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 163,242 shares of the company’s stock after buying an additional 14,199 shares during the quarter. Geode Capital Management LLC owned approximately 0.97% of Unity Biotechnology worth $240,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 29.49% of the company’s stock.

Unity Biotechnology Company Profile

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.