Parkman Healthcare Partners LLC Makes New $6.47 Million Investment in Upstream Bio, Inc. $UPB

Key Points

• Parkman Healthcare Partners acquired 935,247 Upstream Bio shares worth approximately $6.47 million, representing a 1.71% stake. Several other institutional investors also recently initiated or increased positions.
• Upstream Bio shares opened at $6.61, near the lower end of their 52-week range of $5.85 to $33.68, with a market capitalization of about $362 million. The company remains unprofitable, reporting a quarterly loss of $0.73 per share despite exceeding estimates.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, two rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $29.67.

Parkman Healthcare Partners LLC purchased a new stake in Upstream Bio, Inc. (NASDAQ:UPB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 935,247 shares of the company's stock, valued at approximately $6,472,000. Parkman Healthcare Partners LLC owned about 1.71% of Upstream Bio as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Jennison Associates LLC bought a new stake in shares of Upstream Bio during the fourth quarter worth about $7,842,000. Pictet Asset Management Holding SA bought a new position in Upstream Bio in the 4th quarter valued at approximately $20,991,000. UBS Group AG raised its holdings in Upstream Bio by 563.4% in the 4th quarter. UBS Group AG now owns 1,806,243 shares of the company's stock valued at $49,039,000 after buying an additional 1,533,972 shares during the last quarter. Walleye Capital LLC acquired a new stake in Upstream Bio during the 2nd quarter worth approximately $3,450,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Upstream Bio during the 1st quarter worth approximately $1,666,000.

Upstream Bio Stock Down 5.2%

UPB opened at $6.61 on Tuesday. Upstream Bio, Inc. has a twelve month low of $5.85 and a twelve month high of $33.68. The company has a fifty day moving average of $6.88 and a 200-day moving average of $8.74. The stock has a market cap of $362.04 million, a PE ratio of -2.28 and a beta of 1.26.

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

Analyst Ratings Changes

A number of research firms have weighed in on UPB. Mizuho reduced their target price on shares of Upstream Bio from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, May 14th. HC Wainwright started coverage on shares of Upstream Bio in a report on Wednesday, June 3rd. They set a "buy" rating and a $36.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Upstream Bio from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. Wall Street Zen lowered Upstream Bio from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Truist Financial cut their target price on Upstream Bio to $25.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.67.

About Upstream Bio

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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