Hsbc Holdings PLC Sells 629,533 Shares of Upstream Bio, Inc. $UPB

Key Points

• HSBC Holdings sharply reduced its Upstream Bio stake by selling 629,533 shares, a 98.3% decrease, leaving it with 10,793 shares worth approximately $78,000.
• Upstream Bio shares opened at $5.31, near their 12-month low of $5.24 and well below the 12-month high of $33.68. The company reported a quarterly loss of $0.73 per share, slightly better than estimates, and $0.77 million in revenue.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $29.67 price target, while Upstream Bio continues developing verekitug, an antibody treatment candidate for inflammatory and immune-mediated diseases.

Hsbc Holdings PLC lowered its position in Upstream Bio, Inc. (NASDAQ:UPB - Free Report) by 98.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,793 shares of the company's stock after selling 629,533 shares during the period. Hsbc Holdings PLC's holdings in Upstream Bio were worth $78,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in Upstream Bio in the second quarter worth approximately $33,000. Persistent Asset Partners Ltd acquired a new stake in shares of Upstream Bio in the 2nd quarter valued at $34,000. Canada Pension Plan Investment Board acquired a new stake in shares of Upstream Bio in the 2nd quarter valued at $80,000. Legal & General Group Plc bought a new stake in Upstream Bio in the second quarter worth $87,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Upstream Bio in the second quarter worth $109,000.

Upstream Bio Stock Down 0.4%

Upstream Bio stock opened at $5.31 on Friday. The business has a 50 day moving average price of $6.63 and a two-hundred day moving average price of $7.74. The stock has a market cap of $290.83 million, a price-to-earnings ratio of -1.83 and a beta of 1.28. Upstream Bio, Inc. has a 12 month low of $5.24 and a 12 month high of $33.68.

Upstream Bio (NASDAQ:UPB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.01. The company had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.56 million. Upstream Bio had a negative return on equity of 48.40% and a negative net margin of 4,955.67%. On average, analysts expect that Upstream Bio, Inc. will post -2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $36.00 price target on shares of Upstream Bio in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. increased 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 shares of Upstream Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 17th. Truist Financial decreased their price objective on shares of Upstream Bio to $25.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Upstream Bio from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $29.67.

About Upstream Bio

Upstream Bio, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for inflammatory and immune-mediated diseases. The company's research is centered on targeting biological pathways involved in chronic inflammation, with the goal of addressing conditions that may not be adequately controlled by existing therapies.

Upstream Bio's lead product candidate is verekitug, a monoclonal antibody designed to block thymic stromal lymphopoietin (TSLP), an epithelial-cell-derived cytokine that plays a role in initiating and sustaining allergic and inflammatory responses.

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