Upstream Bio (NASDAQ:UPB) Sees Strong Trading Volume - What's Next?

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-high 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.

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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.50.

Upstream Bio Price Performance

The stock's 50-day moving average price is $12.76 and its 200 day moving average price is $9.92.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UPB. BNP Paribas Financial Markets purchased a new position in shares of Upstream Bio in the fourth quarter valued at approximately $25,000. Legal & General Group Plc purchased a new position in shares of Upstream Bio in the fourth quarter valued at approximately $28,000. Summit Investment Advisors Inc. purchased a new position in shares of Upstream Bio in the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC acquired a new stake in Upstream Bio in the fourth quarter valued at approximately $47,000. Finally, CWM LLC raised its holdings in Upstream Bio by 107.5% in the second quarter. CWM LLC now owns 3,312 shares of the company's stock valued at $36,000 after acquiring an additional 1,716 shares in the last quarter.

About Upstream Bio

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.