Upstream Bio (NASDAQ:UPB) Stock Price Down 10.4% – Here’s Why

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price dropped 10.4% on Monday . The stock traded as low as $12.24 and last traded at $12.27. Approximately 20,755 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 220,907 shares. The stock had previously closed at $13.70.

Analyst Upgrades and Downgrades

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

Upstream Bio Trading Down 1.9 %

The company has a 50-day moving average of $20.00.

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

About Upstream Bio

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.