Upstream Bio (NASDAQ:UPB) Trading Up 9.4% – Time to Buy?

Upstream Bio, Inc. (NASDAQ:UPB) shares were up 9.4% on Thursday . The company traded as high as $11.10 and last traded at $11.21. Approximately 38,319 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 240,503 shares. The stock had previously closed at $10.25.

Wall Street Analysts Forecast Growth

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

Upstream Bio Price Performance

The firm has a 50-day simple moving average of $16.57.

Upstream Bio (NASDAQ:UPB) last issued its earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share (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 the consensus estimate of $0.83 million. Equities research analysts predict that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upstream Bio

An institutional investor recently bought a new position in Upstream Bio stock. Rhumbline Advisers acquired a new position in shares of Upstream Bio, Inc. (NASDAQ:UPB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,721 shares of the company’s stock, valued at approximately $275,000.

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.