Upstream Bio (NASDAQ:UPB) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Upstream Bio's trading volume surged to approximately 1,179,581 shares, an increase of 239% compared to the previous session, with the stock last trading at $16.28.
• Wall Street Zen upgraded the stock from a "sell" rating to a "hold" rating, contributing to a current average rating of "Moderate Buy" with a consensus price target of $56.50.
• In its latest earnings report, Upstream Bio reported a loss per share of ($0.74), missing estimates, while revenue exceeded expectations at $0.94 million.

Shares of Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,179,581 shares changed hands during trading, an increase of 239% from the previous session's volume of 348,053 shares.The stock last traded at $16.28 and had previously closed at $16.00.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Upstream Bio from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Upstream Bio currently has an average rating of "Moderate Buy" and a consensus price target of $56.50.

Upstream Bio Price Performance

The firm's 50-day moving average price is $12.04 and its 200-day moving average price is $9.64.

Upstream Bio (NASDAQ:UPB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.13). The business had revenue of $0.94 million for the quarter, compared to analysts' expectations of $0.32 million. Upstream Bio had a negative net margin of 3,836.58% and a negative return on equity of 35.90%. On average, sell-side analysts expect that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Institutional Trading of Upstream Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC purchased a new stake in Upstream Bio during the 4th quarter worth about $117,977,000. Orbimed Advisors LLC purchased a new stake in Upstream Bio during the 4th quarter worth about $93,603,000. Decheng Capital LLC purchased a new stake in Upstream Bio during the 4th quarter worth about $54,010,000. TCG Crossover Management LLC purchased a new stake in shares of Upstream Bio in the 4th quarter valued at about $44,856,000. Finally, Enavate Sciences GP LLC purchased a new stake in shares of Upstream Bio in the 4th quarter valued at about $40,438,000.

Upstream Bio Company 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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