Upstream Bio (NASDAQ:UPB) Reaches New 52-Week Low – Should You Sell?

Upstream Bio, Inc. (NASDAQ:UPB) 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. The stock had previously closed at $9.93.

Wall Street Analyst Weigh In

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

Upstream Bio Price Performance

The stock’s 50-day moving average is $16.20.

Upstream Bio (NASDAQ:UPB) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing the consensus estimate 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 expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upstream Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UPB. Rhumbline Advisers acquired a new position in Upstream Bio during the fourth quarter worth $275,000. Bank of New York Mellon Corp purchased a new stake in shares of Upstream Bio during the fourth quarter worth about $607,000. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Upstream Bio during the 4th quarter worth 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.