The stock of Unity Biotechnology, Inc. (NASDAQ:UBX) is now priced at $11.98 and the shares are 1.55 points up or 14.86% higher compared to its previous closing price of $10.43. The stock had 7.257 million contracts set over the past session. UBX shares’ daily volume is compared to its average trading volume at 424152 shares. However, it has a float of 43.44 million and although its performance was 20.28% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the UBX share price recently placing at $10.6 to $15.44. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are climbing into the Unity Biotechnology, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the UBX shares have risen. Short interest in the stock represents just 11.67% of its float, but the volume has raised by 54135. The volume of shorted shares rised to 5.068 million from 5.014 million shares over the last two weeks. The average intraday trading volume has been 280575 shares, which means that days to cover moved to roughly 18.064375.
In the last trading session, Unity Biotechnology, Inc. (NASDAQ:UBX) raised by $2.02 over the week and gained $4.59 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $15.44. The stock recorded its established 52-week high on 08/10/20.
Since 03/13/20, the stock has traded to a low of $4.62 at 159.31%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Unity Biotechnology, Inc.’s two-week RSI is 76.55. This suggests that the stock is oversold at the moment and that UBX shares’ price movement remains not stable. The stochastic readings are equally revealing at 69.48% meaning the UBX share price is currently in neutral territory.
The technical chart shows that the UBX stock will likely settle at between $14.75 and $17.51 per share. However, if the stock dips below $9.91, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.83.
Currently, the stock is trading in the green of MACD, with a reading of 0.8. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned UBX a rating of Buy in their intiating review released on July 28. Cantor Fitzgerald analysts see the stock as a Overweight with a target price of $20 in a flash note released to investors on December 12 initiating covering the stock. Cantor Fitzgerald analysts see the stock as Overweight when the analysts initiated the share price coverage on March 07, placing it at $21.
The average rating for the UBX equity is 2 and is currently gathering a bullish momentum. Of 6 analysts tracking Unity Biotechnology, Inc. polled by Reuters, 1 rated UBX as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.