Upstream Bio (NASDAQ:UPB) Hits New 12-Month High – What’s Next?

Upstream Bio, Inc. (NASDAQ:UPB) reached a new 52-week high during trading on Monday . The stock traded as high as $26.99 and last traded at $26.4560, with a volume of 408950 shares trading hands. The stock had previously closed at $25.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Upstream Bio in a research note on Wednesday, October 8th. Truist Financial began coverage on shares of Upstream Bio in a research report on Tuesday, October 14th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Evercore ISI began coverage on shares of Upstream Bio in a report on Tuesday, November 18th. They issued an “outperform” rating and a $40.00 target price 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, the company has a consensus rating of “Hold” and an average price target of $43.50.

Upstream Bio Trading Up 2.0%

The stock has a 50 day moving average of $21.22 and a 200-day moving average of $15.96. The stock has a market capitalization of $1.41 billion and a P/E ratio of -13.86.

Upstream Bio (NASDAQ:UPB) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.15. The firm had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.65 million. Upstream Bio had a negative net margin of 4,366.77% and a negative return on equity of 28.71%. Research analysts anticipate that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund bought a new stake in shares of Upstream Bio in the 1st quarter valued at about $29,000. BNP Paribas Financial Markets boosted its stake in Upstream Bio by 229.8% in the second quarter. BNP Paribas Financial Markets now owns 3,097 shares of the company’s stock valued at $34,000 after acquiring an additional 2,158 shares in the last quarter. Legal & General Group Plc boosted its stake in Upstream Bio by 83.0% in the second quarter. Legal & General Group Plc now owns 3,174 shares of the company’s stock valued at $35,000 after acquiring an additional 1,440 shares in the last quarter. CWM LLC grew its holdings in Upstream Bio by 107.5% in the second quarter. CWM LLC now owns 3,312 shares of the company’s stock worth $36,000 after purchasing an additional 1,716 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings 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 during the last quarter.

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.