Upstream Bio (NASDAQ:UPB) Shares Down 7.3% – Time to Sell?

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price traded down 7.3% during mid-day trading on Monday . The stock traded as low as $9.91 and last traded at $9.98. 18,696 shares changed 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.

Wall Street Analyst Weigh In

UPB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. started coverage on Upstream Bio in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $38.00 price objective on the stock. Piper Sandler assumed coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $75.00 price target on the stock. William Blair initiated coverage on Upstream Bio in a report on Tuesday, November 5th. They set an “outperform” rating for the company. Finally, TD Cowen assumed coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They issued a “buy” rating on the stock.

Upstream Bio Trading Down 10.7 %

The company’s 50-day moving average price is $16.20.

Upstream Bio (NASDAQ:UPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($6.38). The business had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $0.83 million. Equities research analysts predict that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers bought a new stake in shares of Upstream Bio in the 4th quarter valued at approximately $275,000. Bank of New York Mellon Corp bought a new stake in Upstream Bio in the fourth quarter valued at $607,000. Finally, Moody Aldrich Partners LLC acquired a new position in Upstream Bio during the fourth quarter worth $1,229,000.

About Upstream Bio

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.