Parkman Healthcare Partners LLC Invests $1.43 Million in Upstream Bio, Inc. $UPB

Key Points

• Parkman Healthcare Partners LLC has invested approximately $1.43 million in Upstream Bio, acquiring 233,563 shares, which represents about 0.43% ownership of the company as of the recent quarter.
• Upstream Bio reported a loss of $0.74 earnings per share for the latest quarter, missing estimates, but generated revenue of $0.94 million, exceeding expectations.
• Despite recent struggles, Upstream Bio has a consensus rating of "Buy" from analysts, with an average target price of $56.50.

Parkman Healthcare Partners LLC purchased a new position in Upstream Bio, Inc. (NASDAQ:UPB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 233,563 shares of the company's stock, valued at approximately $1,429,000. Parkman Healthcare Partners LLC owned approximately 0.43% of Upstream Bio at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of UPB. Orbimed Advisors LLC purchased a new stake in shares of Upstream Bio in the fourth quarter worth about $93,603,000. Enavate Sciences GP LLC purchased a new stake in Upstream Bio in the fourth quarter valued at approximately $40,438,000. VR Adviser LLC purchased a new stake in Upstream Bio in the fourth quarter valued at approximately $37,735,000. Wellington Management Group LLP purchased a new stake in Upstream Bio in the fourth quarter valued at approximately $25,632,000. Finally, Woodline Partners LP purchased a new stake in Upstream Bio in the fourth quarter valued at approximately $8,656,000.

Upstream Bio Stock Performance

Shares of Upstream Bio stock opened at $19.97 on Friday. Upstream Bio, Inc. has a 52-week low of $5.14 and a 52-week high of $29.46. The company's 50 day moving average price is $14.80 and its 200-day moving average price is $10.88.

Upstream Bio (NASDAQ:UPB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.13). Upstream Bio had a negative return on equity of 35.90% and a negative net margin of 3,836.58%.The firm had revenue of $0.94 million during the quarter, compared to the consensus estimate of $0.32 million. Sell-side analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Upstream Bio from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $56.50.

Upstream Bio 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.

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