Upstream Bio (NASDAQ:UPB) Shares Down 3.9% – Here’s What Happened

Upstream Bio, Inc. (NASDAQ:UPB)’s share price traded down 3.9% during mid-day trading on Friday . The company traded as low as $10.46 and last traded at $10.36. 8,771 shares were traded during trading, a decline of 96% from the average session volume of 245,725 shares. The stock had previously closed at $10.77.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler began coverage on Upstream Bio in a research report on Tuesday, November 5th. They set an “overweight” rating and a $75.00 target price on the stock. William Blair assumed coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They set an “overweight” rating and a $38.00 target price on the stock. Finally, TD Cowen started 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 2.2 %

The stock has a 50 day moving average price of $18.15.

Upstream Bio (NASDAQ:UPB) last announced its 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 company had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.83 million. Equities analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Trading of Upstream Bio

A hedge fund recently bought a new stake in Upstream Bio stock. Moody Aldrich Partners LLC bought a new position in shares of Upstream Bio, Inc. (NASDAQ:UPB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 74,773 shares of the company’s stock, valued at approximately $1,229,000. Moody Aldrich Partners LLC owned 0.14% of Upstream Bio at the end of the most recent reporting period.

Upstream Bio Company Profile

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.