Velan Capital Investment Management LP Purchases Shares of 107,000 Upstream Bio, Inc. $UPB

Key Points

• Velan Capital Investment Management LP has invested $655,000 in Upstream Bio, acquiring 107,000 shares during the 1st quarter, making it the firm's 25th largest position.
• Upstream Bio reported a quarterly loss of ($0.74) earnings per share, missing the consensus estimate by ($0.13), despite revenue of $0.94 million exceeding expectations.
• Analysts have upgraded Upstream Bio's rating from "sell" to "hold," with an average price target of $56.50, reflecting positive sentiment on the stock.

Velan Capital Investment Management LP bought a new stake in Upstream Bio, Inc. (NASDAQ:UPB - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 107,000 shares of the company's stock, valued at approximately $655,000. Upstream Bio comprises approximately 0.7% of Velan Capital Investment Management LP's holdings, making the stock its 25th largest holding. Velan Capital Investment Management LP owned 0.20% of Upstream Bio at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UPB. Bank of America Corp DE purchased a new stake in shares of Upstream Bio in the fourth quarter valued at $230,000. Northern Trust Corp acquired a new position in Upstream Bio during the 4th quarter valued at approximately $2,363,000. Barclays PLC bought a new position in Upstream Bio in the 4th quarter worth about $445,000. Legal & General Group Plc acquired a new stake in Upstream Bio in the fourth quarter worth about $28,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Upstream Bio during the 4th quarter valued at $181,000.

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 report on Friday, June 6th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Upstream Bio presently has an average rating of "Buy" and an average price target of $56.50.

Upstream Bio Trading Up 18.3%

Shares of Upstream Bio stock traded up $3.13 during midday trading on Tuesday, hitting $20.26. The company had a trading volume of 2,190,034 shares, compared to its average volume of 363,375. Upstream Bio, Inc. has a 1-year low of $5.14 and a 1-year high of $29.46. The business's 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $10.59.

Upstream Bio (NASDAQ:UPB - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $0.94 million for the quarter, compared to the consensus estimate of $0.32 million. As a group, sell-side analysts expect that Upstream Bio, Inc. will post -4.3 EPS for the current year.

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.