The Ballymoney man has made 83 appearances for his province since making his senior debut in 2019 and has represented Ireland on an Emerging Ireland tour to South Africa in 2022.
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On the move, Ulster Rugby's Head Coach, Richie Murphy, said:
"We wish Stewart all the very best for the rest of the season. This is a great opportunity for him to get more playing time and develop his game.
We are excited to see him show his quality in Newcastle and see this as a positive move for all parties.”