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

Shares of Upstream Bio, Inc. (NASDAQ:UPB) fell 7.3% during trading on Monday . The stock traded as low as $9.91 and last traded at $9.98. 18,696 shares were traded during 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

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

Upstream Bio Trading Down 10.7 %

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

Upstream Bio (NASDAQ:UPB) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) earnings per share 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 analyst estimates of $0.83 million. On average, equities research analysts forecast that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UPB. Rhumbline Advisers acquired a new stake in shares of Upstream Bio during the fourth quarter worth about $275,000. Bank of New York Mellon Corp acquired a new stake in Upstream Bio in the 4th quarter valued at $607,000. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Upstream Bio during the 4th quarter worth about $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.