BlackRock Inc. Purchases New Holdings in Upstream Bio, Inc. $UPB

Key Points

• BlackRock acquired 3.75 million shares of Upstream Bio in the second quarter, worth approximately $26 million and representing a 6.9% stake. Several other institutional investors also increased or initiated positions.
• Upstream Bio reported a quarterly loss of $0.73 per share, slightly better than analyst expectations, and revenue of $0.77 million versus a $0.56 million consensus estimate. The company remains deeply unprofitable, with a negative return on equity and net margin.
• UPB recently traded at $6.48, near its 52-week low of $5.85 and well below its $33.68 high. Analysts’ consensus rating is Hold, with an average price target of $29.67, although ratings range from Buy to Strong Sell.

BlackRock Inc. acquired a new position in Upstream Bio, Inc. (NASDAQ:UPB - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,753,358 shares of the company's stock, valued at approximately $25,973,000. BlackRock Inc. owned 6.90% of Upstream Bio as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new stake in shares of Upstream Bio in the second quarter valued at $34,000. BNP Paribas Financial Markets raised its position in Upstream Bio by 229.8% during 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 during the period. Legal & General Group Plc raised its position in Upstream Bio by 83.0% during the second quarter. Legal & General Group Plc now owns 3,174 shares of the company's stock valued at $35,000 after buying an additional 1,440 shares during the period. Empowered Funds LLC purchased a new stake in Upstream Bio in the 4th quarter worth about $45,000. Finally, Russell Investments Group Ltd. lifted its stake in Upstream Bio by 1,963.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,034 shares of the company's stock worth $57,000 after acquiring an additional 2,887 shares in the last quarter.

Upstream Bio Stock Performance

UPB opened at $6.48 on Thursday. The company has a market cap of $354.92 million, a PE ratio of -2.23 and a beta of 1.28. The stock has a 50-day moving average of $6.96 and a 200-day moving average of $7.93. Upstream Bio, Inc. has a 52-week low of $5.85 and a 52-week high of $33.68.

Upstream Bio (NASDAQ:UPB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.01. Upstream Bio had a negative return on equity of 48.40% and a negative net margin of 4,955.67%.The business had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.56 million. On average, research analysts predict that Upstream Bio, Inc. will post -2.86 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on UPB. JPMorgan Chase & Co. raised their price objective on Upstream Bio from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Wall Street Zen cut shares of Upstream Bio from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Mizuho lowered their price objective on shares of Upstream Bio from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, May 14th. HC Wainwright reaffirmed a "buy" rating and set a $36.00 price objective on shares of Upstream Bio in a research report on Wednesday. Finally, Weiss Ratings upgraded shares of Upstream Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 17th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Upstream Bio has a consensus rating of "Hold" and an average target price of $29.67.

Upstream Bio Company Profile

Upstream Bio, Inc is a clinical-stage biotechnology company focused on the development of next-generation prophylactic vaccines and immuno-oncology therapies. Leveraging a proprietary viral vector platform, the company aims to deliver optimized antigen payloads that stimulate robust and durable immune responses against both infectious diseases and cancer targets. Upstream Bio's approach emphasizes safety, manufacturability and potential for rapid scale-up to address emerging public health challenges.

The company's research and development pipeline includes multiple viral vector-based candidates in early clinical and preclinical stages.

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