Upstream Bio (NASDAQ:UPB) Given New $18.00 Price Target at HC Wainwright

Upstream Bio (NASDAQ:UPB) had its price target decreased by HC Wainwright to $18.00 in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other research firms also recently weighed in on UPB. Truist Financial reduced their price target on shares of Upstream Bio to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price objective on Upstream Bio from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Weiss Ratings upgraded Upstream Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Finally, Wall Street Zen cut Upstream Bio from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.67.

Upstream Bio Price Performance

Shares of UPB stock opened at $3.20 on Wednesday. Upstream Bio has a 1-year low of $2.68 and a 1-year high of $33.68. The company has a market cap of $175.26 million, a price-to-earnings ratio of -1.06 and a beta of 1.60. The stock has a 50 day simple moving average of $4.38 and a 200-day simple moving average of $8.38.

Upstream Bio (NASDAQ:UPB) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). Upstream Bio had a negative net margin of 5,712.33% and a negative return on equity of 53.77%. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.55 million. Analysts anticipate that Upstream Bio will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of Upstream Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Upstream Bio during the second quarter worth about $25,973,000. SEB Asset Management AB purchased a new position in Upstream Bio in the first quarter worth approximately $7,906,000. Parkman Healthcare Partners LLC purchased a new position in Upstream Bio in the second quarter worth approximately $6,472,000. Hsbc Holdings PLC purchased a new position in Upstream Bio in the first quarter worth approximately $5,763,000. Finally, Walleye Capital LLC acquired a new stake in Upstream Bio during the second quarter worth $3,450,000.

About Upstream Bio

Upstream Bio is a clinical-stage biopharmaceutical company developing treatments for inflammatory diseases. The company is based in Waltham, Massachusetts, and its research focuses on pathways involved in immune and inflammatory responses. Its lead product candidate, verekitug (UPB-101), is an antibody designed to block the receptor for thymic stromal lymphopoietin, a protein associated with inflammation. Upstream Bio is developing verekitug for conditions including asthma and chronic rhinosinusitis with nasal polyps.