Upstream Bio (NASDAQ:UPB) Reaches New 52-Week Low – What’s Next?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $8.36 and last traded at $8.87, with a volume of 447122 shares trading hands. The stock had previously closed at $9.93.

Wall Street Analysts Forecast Growth

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

Upstream Bio Stock Down 5.4 %

The stock has a fifty day moving average price of $15.95.

Upstream Bio (NASDAQ:UPB) last issued 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 company had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.83 million. As a group, equities research analysts forecast that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Hedge Funds Weigh In On Upstream Bio

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new position in shares of Upstream Bio in the fourth quarter valued at approximately $2,225,000. US Bancorp DE bought a new position in Upstream Bio in the 4th quarter worth $27,000. Bank of New York Mellon Corp acquired a new position in Upstream Bio during the 4th quarter worth $607,000. Rhumbline Advisers bought a new stake in Upstream Bio during the fourth quarter valued at about $275,000. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of Upstream Bio in the fourth quarter valued at about $1,229,000.

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.