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

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on UPB shares. William Blair assumed coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They set an “outperform” rating for the company. JPMorgan Chase & Co. began coverage on shares of Upstream Bio in a research report on Tuesday, November 5th. They set an “overweight” rating and a $38.00 target price on the stock. Piper Sandler assumed coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They set an “overweight” rating and a $75.00 target price for the company. Finally, TD Cowen initiated coverage on Upstream Bio in a report on Tuesday, November 5th. They set a “buy” rating on the stock.

Upstream Bio Trading Down 2.2 %

The stock’s 50 day moving average price is $18.15.

Upstream Bio (NASDAQ:UPB) last issued 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 firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.83 million. Equities research analysts expect that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Institutional Trading of Upstream Bio

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

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.