Upstream Bio (NASDAQ:UPB) Stock Price Down 5.3% - Here's Why

Key Points

• Upstream Bio's stock fell by 5.3% to $16.43 after trading as low as $16.52, with a significant drop in trading volume.
• The company reported ($0.74) earnings per share for the last quarter, missing analyst expectations of ($0.61), despite revenue exceeding estimates.
• Analyst ratings for Upstream Bio have improved, with Wall Street Zen upgrading its rating from "sell" to "hold" and a majority of analysts currently rating the stock as a Buy.

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report)'s share price traded down 5.3% during mid-day trading on Wednesday . The company traded as low as $16.52 and last traded at $16.43. 49,479 shares changed hands during trading, a decline of 87% from the average session volume of 372,246 shares. The stock had previously closed at $17.35.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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 data from MarketBeat.com, Upstream Bio has an average rating of "Buy" and a consensus target price of $56.50.

Upstream Bio Price Performance

The company has a 50-day moving average price of $16.04 and a 200 day moving average price of $11.58.

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 for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.13). The firm had revenue of $0.94 million during the quarter, compared to analyst estimates of $0.32 million. Upstream Bio had a negative net margin of 3,836.58% and a negative return on equity of 35.90%. On average, research analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Institutional Investors Weigh In On Upstream Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp acquired a new position in shares of Upstream Bio during the fourth quarter worth $2,363,000. Jane Street Group LLC acquired a new stake in Upstream Bio during the 4th quarter worth about $749,000. BNP Paribas Financial Markets bought a new stake in shares of Upstream Bio during the 4th quarter worth about $25,000. Bank of America Corp DE bought a new stake in Upstream Bio during the fourth quarter valued at about $230,000. Finally, Deutsche Bank AG acquired a new position in Upstream Bio in the 4th quarter valued at approximately $244,000.

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.