Upstream Bio (NASDAQ:UPB) Stock Price Up 9.4% – Still a Buy?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price rose 9.4% on Thursday . The stock traded as high as $11.10 and last traded at $11.21. Approximately 38,319 shares were traded 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.

Analysts Set New Price Targets

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

Upstream Bio Stock Up 7.3 %

The firm has a 50-day simple moving average of $16.86.

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

Institutional Investors Weigh In On Upstream Bio

An institutional investor recently bought a new position in Upstream Bio stock. Moody Aldrich Partners LLC bought a new position in Upstream Bio, Inc. (NASDAQ:UPB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 74,773 shares of the company’s stock, valued at approximately $1,229,000. Moody Aldrich Partners LLC owned approximately 0.14% of Upstream Bio as of its most recent SEC filing.

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.