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

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

Analyst Upgrades and Downgrades

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

Upstream Bio Stock Down 8.4 %

The firm has a 50-day moving average price of $16.57.

Upstream Bio (NASDAQ:UPB) last released its quarterly earnings results 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 business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.83 million. As a group, analysts predict that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Institutional Trading of Upstream Bio

An institutional investor recently bought a new position in Upstream Bio stock. Rhumbline Advisers acquired a new stake in shares of Upstream Bio, Inc. (NASDAQ:UPB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,721 shares of the company’s stock, valued at approximately $275,000.

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.