Upstream Bio (NASDAQ:UPB) Reaches New 1-Year Low – What’s Next?

Upstream Bio, Inc. (NASDAQ:UPB) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.36 and last traded at $8.87, with a volume of 447122 shares changing hands. The stock had previously closed at $9.93.

Wall Street Analysts Forecast Growth

UPB has been the topic of a number of recent analyst reports. TD Cowen started coverage on Upstream Bio in a research note on Tuesday, November 5th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $38.00 price target on the stock. Piper Sandler assumed coverage on shares of Upstream Bio in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $75.00 price objective for the company. Finally, William Blair began coverage on shares of Upstream Bio in a research report on Tuesday, November 5th. They set an “outperform” rating on the stock.

Upstream Bio Stock Down 10.7 %

The company’s 50 day simple moving average is $16.20.

Upstream Bio (NASDAQ:UPB) last posted its earnings results on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($6.38). The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.83 million. As a group, analysts forecast that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upstream Bio

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in shares of Upstream Bio during the 4th quarter worth approximately $607,000. Rhumbline Advisers purchased a new position in Upstream Bio in the fourth quarter worth $275,000. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Upstream Bio during the fourth quarter worth $1,229,000.

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.