Upstream Bio (NASDAQ:UPB) Stock Price Down 5.4% - Here's What Happened

Key Points

• Upstream Bio's shares dropped 5.4% during trading on Monday, closing at $16.68 after hitting a low of $16.72, with trading volume down 89% from the average daily volume.
• Wall Street analysts have raised Upstream Bio's rating from "sell" to "hold," with an average target price of $56.50 based on four "Buy" ratings.
• The company's latest earnings report showed a loss of ($0.74) per share, missing expectations, but revenue exceeded forecasts at $0.94 million.

Shares of Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) traded down 5.4% on Monday . The company traded as low as $16.72 and last traded at $16.68. 38,987 shares changed hands during trading, a decline of 89% from the average session volume of 353,884 shares. The stock had previously closed at $17.63.

Wall Street Analyst Weigh In

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

Upstream Bio Stock Up 2.2%

The stock has a 50 day simple moving average of $13.96 and a 200-day simple moving average of $10.48.

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

Institutional Trading of Upstream Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new position in Upstream Bio in the fourth quarter worth approximately $25,000. Legal & General Group Plc purchased a new stake in shares of Upstream Bio during the fourth quarter valued at $28,000. Tower Research Capital LLC TRC purchased a new position in shares of Upstream Bio during the 4th quarter valued at about $47,000. CWM LLC raised its position in shares of Upstream Bio by 107.5% in the second quarter. CWM LLC now owns 3,312 shares of the company's stock worth $36,000 after acquiring an additional 1,716 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in Upstream Bio by 95.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,558 shares of the company's stock valued at $39,000 after buying an additional 1,736 shares in the last quarter.

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.