Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) shares fell 7.3% on Monday . The stock traded as low as $9.91 and last traded at $9.98. 18,696 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 238,480 shares. The stock had previously closed at $10.77.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Piper Sandler initiated coverage on Upstream Bio in a research report on Tuesday, November 5th. They set an "overweight" rating and a $75.00 price target for the company. William Blair started coverage on Upstream Bio in a report on Tuesday, November 5th. They set an "outperform" rating for the company. TD Cowen began coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They set an "overweight" rating and a $38.00 price objective for the company.
Get Our Latest Research Report on UPB
Upstream Bio Stock Down 5.4 %
The firm has a 50 day moving average price of $15.95.
Upstream Bio (NASDAQ:UPB - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing the consensus estimate of ($0.58) by ($6.38). The company had revenue of $0.61 million during the quarter, compared to analysts' expectations of $0.83 million. On average, research analysts forecast that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Upstream Bio
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in Upstream Bio in the 4th quarter valued at about $27,000. Rhumbline Advisers purchased a new position in Upstream Bio in the fourth quarter valued at about $275,000. Bank of New York Mellon Corp acquired a new stake in Upstream Bio during the 4th quarter valued at approximately $607,000. Moody Aldrich Partners LLC purchased a new stake in Upstream Bio during the 4th quarter worth approximately $1,229,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Upstream Bio in the 4th quarter valued at approximately $2,225,000.
About Upstream Bio
(
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Upstream Bio, Inc, a clinical-stage biotechnology company, develops treatments for inflammatory diseases that focuses on severe respiratory disorders. It develops verekitug, a monoclonal antibody that targets and inhibits the thymic stromal lymphopoietin receptor. The company also develops therapies to treat severe asthma, chronic rhinosinusitis with nasal polyps, and chronic obstructive pulmonary disease.
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