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

Unity Biotechnology, Inc. (NASDAQ:UBX) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 460,400 shares, a growth 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. Currently, 3.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Chardan Capital started coverage on Unity Biotechnology in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company.

Institutional Investors Weigh In On Unity Biotechnology

A hedge fund recently raised its stake in Unity Biotechnology stock. Geode Capital Management LLC boosted its stake in Unity Biotechnology, Inc. (NASDAQ:UBX) by 9.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,242 shares of the company’s stock after purchasing an additional 14,199 shares during the quarter. Geode Capital Management LLC owned about 0.97% of Unity Biotechnology worth $240,000 as of its most recent SEC filing. 29.49% of the stock is owned by institutional investors and hedge funds.

Unity Biotechnology Stock Up 2.6 %

NASDAQ UBX traded up $0.05 on Thursday, reaching $1.99. The company had a trading volume of 77,006 shares, compared to its average volume of 391,928. The stock’s 50 day moving average is $1.58 and its 200-day moving average is $1.46. The stock has a market cap of $33.53 million, a price-to-earnings ratio of -1.52 and a beta of 0.91. Unity Biotechnology has a 52 week low of $0.94 and a 52 week high of $3.10.

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.