Upstream Bio (NASDAQ:UPB) Stock Price Down 4.8% - Here's Why

Key Points

• Upstream Bio's shares declined 4.8% on Monday, trading down to $18.03, with a trading volume that was 74% lower than average.
• The company missed its earnings estimates for the quarter, reporting a loss of ($0.74) per share against an expected ($0.61), but exceeded revenue expectations with $0.94 million in revenue.
• Analyst ratings suggest a Moderate Buy consensus for Upstream Bio, with a target price of $56.50, according to recent reports.

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report)'s share price dropped 4.8% during mid-day trading on Monday . The stock traded as low as $18.39 and last traded at $18.03. Approximately 91,694 shares changed hands during trading, a decline of 74% from the average daily volume of 352,805 shares. The stock had previously closed at $18.93.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Upstream Bio from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Upstream Bio has an average rating of "Buy" and an average price target of $56.50.

Upstream Bio Price Performance

The company's fifty day moving average price is $13.34 and its 200 day moving average price is $10.17.

Upstream Bio (NASDAQ:UPB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.13). Upstream Bio had a negative net margin of 3,836.58% and a negative return on equity of 35.90%. The business had revenue of $0.94 million during the quarter, compared to analyst estimates of $0.32 million. Analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Upstream Bio during the 4th quarter valued at about $25,000. Legal & General Group Plc acquired a new position in Upstream Bio during the 4th quarter valued at about $28,000. New York State Common Retirement Fund acquired a new position in Upstream Bio during the 1st quarter valued at about $29,000. CWM LLC boosted its stake in Upstream Bio by 107.5% during the 2nd quarter. CWM LLC now owns 3,312 shares of the company's stock valued at $36,000 after purchasing an additional 1,716 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in Upstream Bio by 95.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,558 shares of the company's stock valued at $39,000 after purchasing an additional 1,736 shares during the period.

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.