Upstream Bio, Inc. (NASDAQ:UPB) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst sentiment is mixed: Seven firms have an average “Hold” rating on Upstream Bio, with four buys, two holds and one sell. The average 12-month price target is $29.67, though individual targets range from $9 to $36.
• UPB shares have declined sharply, opening at $3.55 versus a 52-week high of $33.68. The stock’s 50-day and 200-day moving averages are $5.96 and $7.29, respectively.
• Upstream Bio reported a quarterly loss of $0.73 per share, slightly better than estimates, and revenue of $0.77 million. The clinical-stage biotech is developing verekitug, an antibody targeting TSLP to treat inflammatory airway diseases.

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) has received an average recommendation of "Hold" from the seven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $29.67.

Several research firms have issued reports on UPB. JPMorgan Chase & Co. boosted their price target on Upstream Bio from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Weiss Ratings raised Upstream Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 17th. Wall Street Zen cut Upstream Bio from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. HC Wainwright reaffirmed a "buy" rating and set a $36.00 price objective on shares of Upstream Bio in a research report on Wednesday, September 2nd. Finally, Truist Financial cut their price objective on Upstream Bio to $25.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th.

Hedge Funds Weigh In On Upstream Bio

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Upstream Bio in the second quarter worth about $33,000. Persistent Asset Partners Ltd bought a new stake in Upstream Bio during the 2nd quarter valued at approximately $34,000. Hsbc Holdings PLC bought a new stake in Upstream Bio during the 2nd quarter valued at approximately $78,000. Canada Pension Plan Investment Board bought a new stake in Upstream Bio during the 2nd quarter valued at approximately $80,000. Finally, Engineers Gate Manager LP purchased a new position in Upstream Bio in the 2nd quarter worth approximately $86,000.

Upstream Bio Price Performance

Shares of UPB stock opened at $3.55 on Wednesday. The company has a market cap of $194.43 million, a price-to-earnings ratio of -1.22 and a beta of 1.38. Upstream Bio has a 1 year low of $3.52 and a 1 year high of $33.68. The firm has a fifty day moving average price of $5.96 and a 200-day moving average price of $7.29.

Upstream Bio (NASDAQ:UPB - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.73) EPS for the quarter, topping analysts' consensus estimates of ($0.74) by $0.01. The company had revenue of $0.77 million for the quarter, compared to analysts' expectations of $0.56 million. Upstream Bio had a negative return on equity of 48.40% and a negative net margin of 4,955.67%. Equities research analysts expect that Upstream Bio will post -2.84 EPS for the current year.

About Upstream Bio

Upstream Bio, Inc is a clinical-stage biotechnology company focused on developing therapies for inflammatory diseases. The company's research is centered on targeting biological pathways involved in immune-system activation and chronic inflammation, with an emphasis on conditions affecting the airways.

Upstream Bio's lead product candidate is verekitug, formerly known as UPB-101. Verekitug is a long-acting monoclonal antibody designed to selectively inhibit thymic stromal lymphopoietin, or TSLP, a cytokine that contributes to the development and persistence of inflammation.

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