Upstream Bio (NASDAQ:UPB) Stock Price Down 10.4% – Here’s What Happened

Upstream Bio, Inc. (NASDAQ:UPB)’s share price fell 10.4% during mid-day trading on Monday . The company traded as low as $12.24 and last traded at $12.27. 20,755 shares traded hands during trading, a decline of 91% from the average session volume of 220,907 shares. The stock had previously closed at $13.70.

Wall Street Analyst Weigh In

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

Upstream Bio Stock Performance

The firm has a 50 day simple moving average of $20.00.

Upstream Bio (NASDAQ:UPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($6.38). The business had revenue of $0.61 million during the quarter, compared to the consensus estimate of $0.83 million. As a group, research analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

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.