Upstream Bio (NASDAQ:UPB) Trading Down 3.4% - Here's What Happened

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report)'s stock price fell 3.4% during mid-day trading on Monday . The stock traded as low as $10.74 and last traded at $10.98. 142,171 shares changed hands during trading, a decline of 57% from the average session volume of 332,119 shares. The stock had previously closed at $11.36.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Upstream Bio from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.50.

Upstream Bio Stock Down 1.7%

The stock's fifty day moving average price is $9.12 and its 200 day moving average price is $11.01.

Upstream Bio (NASDAQ:UPB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.02). The business had revenue of $0.57 million during the quarter, compared to analyst estimates of $0.71 million. On average, equities research analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rhumbline Advisers purchased a new position in Upstream Bio in the 4th quarter worth $275,000. Bank of New York Mellon Corp bought a new stake in shares of Upstream Bio in the 4th quarter valued at about $607,000. US Bancorp DE purchased a new stake in Upstream Bio during the 4th quarter valued at about $27,000. Charles Schwab Investment Management Inc. bought a new position in Upstream Bio during the 4th quarter worth approximately $2,225,000. Finally, Corebridge Financial Inc. purchased a new position in Upstream Bio in the 4th quarter worth approximately $142,000.

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.

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