Upstream Bio (NASDAQ:UPB) Shares Up 6.9% – Here’s What Happened

Upstream Bio, Inc. (NASDAQ:UPB) shares rose 6.9% on Tuesday . The company traded as high as $28.83 and last traded at $29.08. Approximately 559,688 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 394,945 shares. The stock had previously closed at $27.20.

Analysts Set New Price Targets

A number of equities analysts have commented on UPB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Upstream Bio in a research report on Wednesday, October 8th. Truist Financial initiated coverage on shares of Upstream Bio in a report on Tuesday, October 14th. They issued a “buy” rating and a $47.00 price target on the stock. Evercore ISI assumed coverage on Upstream Bio in a report on Tuesday, November 18th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Lifesci Capital assumed coverage on Upstream Bio in a research report on Tuesday, December 2nd. They issued an “outperform” rating and a $43.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Upstream Bio has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Upstream Bio Trading Up 6.1%

The stock has a market cap of $1.56 billion, a P/E ratio of -15.49 and a beta of 1.83. The stock has a 50 day simple moving average of $24.53 and a 200 day simple moving average of $18.06.

Upstream Bio (NASDAQ:UPB) last released its earnings results on Wednesday, November 5th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $0.65 million. Equities analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UPB. Russell Investments Group Ltd. boosted its holdings in shares of Upstream Bio by 1,963.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,034 shares of the company’s stock valued at $57,000 after purchasing an additional 2,887 shares in the last quarter. 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 buying an additional 2,158 shares in the last quarter. Legal & General Group Plc grew its position 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 during the last quarter. CWM LLC raised its stake in Upstream Bio by 107.5% during the second quarter. CWM LLC now owns 3,312 shares of the company’s stock worth $36,000 after acquiring an additional 1,716 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of 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 acquiring 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.