Upstream Bio (NASDAQ:UPB) Stock Price Up 8.5% – Here’s What Happened

by · The Markets Daily

Upstream Bio, Inc. (NASDAQ:UPB – Get Free Report) shares rose 8.5% during mid-day trading on Tuesday . The company traded as high as $28.08 and last traded at $28.2630. Approximately 378,469 shares traded hands during trading, a decline of 2% from the average daily volume of 386,405 shares. The stock had previously closed at $26.05.

Wall Street Analysts Forecast Growth

UPB has been the subject of a number of recent research reports. Evercore ISI assumed coverage on Upstream Bio in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $40.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Upstream Bio in a report on Wednesday, October 8th. Finally, Truist Financial initiated coverage on shares of Upstream Bio in a report on Tuesday, October 14th. They set a “buy” rating and a $47.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Upstream Bio presently has an average rating of “Hold” and an average price target of $43.50.

Read Our Latest Stock Report on Upstream Bio

Upstream Bio Trading Up 10.8%

The company has a 50 day moving average of $21.41 and a 200 day moving average of $16.08. The firm has a market cap of $1.56 billion and a price-to-earnings ratio of -15.35.

Upstream Bio (NASDAQ:UPB – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.15. Upstream Bio had a negative return on equity of 28.71% and a negative net margin of 4,366.77%.The company had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.65 million. As a group, sell-side analysts anticipate that Upstream Bio, Inc. will post -4.3 EPS for the current fiscal year.

Institutional Trading of Upstream Bio

Large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund bought a new position in shares of Upstream Bio in the first quarter valued at approximately $29,000. BNP Paribas Financial Markets increased its holdings in Upstream Bio by 229.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,097 shares of the company’s stock valued at $34,000 after purchasing an additional 2,158 shares in the last quarter. Legal & General Group Plc raised its position in Upstream Bio by 83.0% in the 2nd quarter. Legal & General Group Plc now owns 3,174 shares of the company’s stock valued at $35,000 after purchasing an additional 1,440 shares during the last quarter. CWM LLC raised its position in Upstream Bio by 107.5% in the 2nd quarter. CWM LLC now owns 3,312 shares of the company’s stock valued at $36,000 after purchasing an additional 1,716 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Upstream Bio by 95.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,558 shares of the company’s stock worth $39,000 after purchasing an additional 1,736 shares in the last quarter.

About Upstream Bio

(Get Free Report)

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.

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