Wellington Management Group LLP Lowers Stock Holdings in Upstream Bio, Inc. $UPB

Key Points

• Wellington Management Group LLP reduced its stake in Upstream Bio, Inc. by 17.0% during the 1st quarter, now owning 1,313,457 shares worth $8,026,000.
• Upstream Bio reported a net loss of ($0.74) earnings per share, missing expectations, but its revenue for the quarter was $0.94 million against an estimate of $0.32 million.
• Analysts have a prevailing average rating of "Buy" for Upstream Bio, with a price target of $56.50, indicating confidence in the company's future potential.

Wellington Management Group LLP lessened its holdings in shares of Upstream Bio, Inc. (NASDAQ:UPB - Free Report) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,313,457 shares of the company's stock after selling 269,697 shares during the quarter. Wellington Management Group LLP owned approximately 2.44% of Upstream Bio worth $8,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Orbimed Advisors LLC purchased a new position in shares of Upstream Bio during the 4th quarter valued at $93,603,000. Enavate Sciences GP LLC purchased a new position in shares of Upstream Bio during the 4th quarter valued at $40,438,000. VR Adviser LLC purchased a new position in shares of Upstream Bio during the 4th quarter valued at $37,735,000. Deep Track Capital LP purchased a new position in shares of Upstream Bio during the 4th quarter valued at $16,440,000. Finally, Woodline Partners LP purchased a new position in shares of Upstream Bio during the 4th quarter valued at $8,656,000.

Upstream Bio Stock Performance

Shares of Upstream Bio stock traded up $1.22 during trading hours on Tuesday, reaching $18.35. The company's stock had a trading volume of 1,111,037 shares, compared to its average volume of 358,633. The firm has a 50 day moving average price of $14.09 and a 200-day moving average price of $10.59. Upstream Bio, Inc. has a one year low of $5.14 and a one year high of $29.46.

Upstream Bio (NASDAQ:UPB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $0.94 million during the quarter, compared to the consensus estimate of $0.32 million. On average, equities research analysts forecast that Upstream Bio, Inc. will post -4.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Upstream Bio from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus 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.