Upstream Bio (NASDAQ:UPB) Stock Price Target Lowered at HC Wainwright

Upstream Bio (NASDAQ:UPB) had its price target dropped by analysts at HC Wainwright to $18.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright‘s price target would indicate a potential upside of 432.54% from the stock’s current price.

UPB has been the subject of a number of other reports. Truist Financial decreased their price target on Upstream Bio to $25.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Wall Street Zen cut shares of Upstream Bio from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of Upstream Bio from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Upstream Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.67.

Upstream Bio Trading Down 5.6%

NASDAQ UPB opened at $3.38 on Wednesday. The stock has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $8.52. Upstream Bio has a fifty-two week low of $2.68 and a fifty-two week high of $33.68.

Upstream Bio (NASDAQ:UPB) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.03). Upstream Bio had a negative net margin of 4,955.67% and a negative return on equity of 48.40%. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.48 million. On average, research analysts anticipate that Upstream Bio will post -2.84 earnings per share for the current year.

Hedge Funds Weigh In On Upstream Bio

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Upstream Bio during the second quarter worth approximately $25,973,000. SEB Asset Management AB purchased a new stake in shares of Upstream Bio in the first quarter valued at approximately $7,906,000. Parkman Healthcare Partners LLC purchased a new stake in shares of Upstream Bio in the second quarter valued at approximately $6,472,000. Hsbc Holdings PLC purchased a new stake in shares of Upstream Bio in the first quarter valued at approximately $5,763,000. Finally, Walleye Capital LLC acquired a new position in shares of Upstream Bio during the 2nd quarter worth approximately $3,450,000.

About Upstream Bio

Upstream Bio, Inc. is a clinical-stage biotechnology company focused on developing therapies for inflammatory and immune-mediated diseases. The company’s research is centered on targeting pathways involved in type 2 inflammation, which contributes to conditions affecting the respiratory system and other tissues. Its lead product candidate is verekitug, an investigational, long-acting monoclonal antibody designed to block thymic stromal lymphopoietin (TSLP), an epithelial cytokine that plays a role in initiating and maintaining allergic and inflammatory responses.