With the current price of $3.02, the stock of Unity Biotechnology, Inc. (NASDAQ:UBX) concluded the trading session seeing its price drop by -0.17 points or at a loss of -5.48% compared to its previous day’s closing price of $3.19. About 3.775 million shares of the stock changed hands on the day. The trading volume of UBX’s shares during the past session compares with the stock’s average daily trading volume of 1.187 million shares. On the other hand, a float of 43.44 million shares and a weekly performance of -74.23% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for UBX’s share which suggests that the stock, price of which is currently buoying between $2.8701 and $3.19, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $4 to the stock.
The latest data released on July 31, 2020 shows that the short float in the Unity Biotechnology, Inc.’s stock is trending upward as short interest in UBX shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the UBX is currently comprised of 12.38% of the float as the volume of shorted shares inclined by 308602 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 5.377 million shares from the previous figure of 5.068 million shares. Stock’s average intraday volume is now standing at 419380 shares which indicate that the days to cover the shorts are nearly 12.821341.
After concluding the day’s trading, price of Unity Biotechnology, Inc. (NASDAQ:UBX) is down -$8.7 over the week and it is -$5.45 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $15.44 that was attained on 08/10/20.
The stock has traded as low as $2.87 in past 52-week, and its current price is -2.11% below to that 52-week low price mark recorded on 08/20/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 23.74 as 14-days RSI of Unity Biotechnology, Inc. This means that the UBX is currently in an overbought territory and its share’s price movement is likely to be shaky for a while. Similarly, the stochastic oscillator is indicating a momentum of 0.99%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $3.18 for the UBX’s share while placing it at a 2nd resistance point of $3.35 to be settled at. But if the stock takes a plunge lower than the 1st support price of $2.86 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $2.71.
MACD oscillator is showing a reading of -4.99 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Morgan Stanley lowered its recommendation for UBX stock from Overweight to Equal-Weight in a review note dated August 18, and moved the price target down at $5. The stock gets its recommendation downgraded from Buy to Neutral from the analysts at Mizuho who assigned a target price of $33 to $4 in their August 18 note to investors.Citigroupanalysts downgraded their recommendation from Buy to Neutral on August 18, while assigning a price target of $31 to $5.
The average rating of 2 for UBX is placing the stock in bullish category at the moment. In a poll by Reuters including 6 analysts in it who kept tracking the Unity Biotechnology, Inc., 5 rated the stock as hold. Others were in different opinions for the UBX. Out of remaining 1 analysts, 1 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.