Upstream Bio (NASDAQ:UPB) Trading Down 4.8% - Time to Sell?

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.

Shares of Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) dropped 4.8% 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.

Wall Street Analysts Forecast Growth

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

Upstream Bio Price Performance

The firm has a 50 day moving average price of $13.34 and a 200-day moving average price of $10.17.

Upstream Bio (NASDAQ:UPB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.13). The company had revenue of $0.94 million during the quarter, compared to analysts' expectations of $0.32 million. Upstream Bio had a negative net margin of 3,836.58% and a negative return on equity of 35.90%. As a group, sell-side analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UPB. Orbimed Advisors LLC purchased a new position in shares of Upstream Bio in the 4th quarter valued at about $93,603,000. Decheng Capital LLC purchased a new position in shares of Upstream Bio in the 4th quarter valued at about $54,010,000. TCG Crossover Management LLC purchased a new position in shares of Upstream Bio in the 4th quarter valued at about $44,856,000. Enavate Sciences GP LLC purchased a new position in shares of Upstream Bio in the 4th quarter valued at about $40,438,000. Finally, VR Adviser LLC purchased a new position in shares of Upstream Bio in the 4th quarter valued at about $37,735,000.

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.