HC Wainwright Issues Pessimistic Forecast for Upstream Bio (NASDAQ:UPB) Stock Price

Key Points

• HC Wainwright lowered its price target for Upstream Bio to $18 but maintained a Buy rating; that target implies about 433% upside from the stock’s current price.
• Analyst views are mixed: MarketBeat reports a consensus Hold rating and an average price target of $26.67, with four Buy, two Hold, and one Sell ratings.
• Upstream Bio reported a quarterly loss of $0.75 per share, missing the $0.72 consensus estimate, and revenue of $0.40 million, below expectations of $0.48 million.

Upstream Bio (NASDAQ:UPB - Get Free Report) had its target price decreased by analysts at HC Wainwright to $18.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 432.54% from the stock's current price.

Several other analysts also recently weighed in on the stock. Truist Financial dropped their target price on shares of Upstream Bio to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their price target on shares of Upstream Bio from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, August 14th. Wall Street Zen downgraded shares of Upstream Bio from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Upstream Bio currently has a consensus rating of "Hold" and an average target price of $26.67.

Upstream Bio Stock Performance

Shares of UPB stock opened at $3.38 on Wednesday. Upstream Bio has a fifty-two week low of $2.68 and a fifty-two week high of $33.68. The stock's 50-day simple moving average is $4.44 and its 200-day simple moving average is $8.52.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Upstream Bio in the second quarter valued at approximately $25,973,000. Parkman Healthcare Partners LLC purchased a new position in Upstream Bio during the 2nd quarter worth approximately $6,472,000. SEB Asset Management AB purchased a new position in Upstream Bio during the 1st quarter worth approximately $7,906,000. Hsbc Holdings PLC purchased a new position in Upstream Bio during the 1st quarter worth approximately $5,763,000. Finally, Walleye Capital LLC acquired a new stake in Upstream Bio during the 2nd quarter valued at 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.

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