Upstream Bio (NASDAQ:UPB) Trading 8.1% Higher - What's Next?

Key Points

• Upstream Bio's stock price rose 8.1% during midday trading, reaching a high of $15.25 before closing at $15.10, although trading volume declined significantly by 36% compared to its average.
• Analysts have shown increasing confidence in the stock, with one research firm upgrading it from "sell" to "hold" and four analysts rating it as a "buy," giving it a target price of $56.50.
• Despite a surge in stock price, Upstream Bio reported a quarterly earnings miss, with earnings per share of ($0.51), falling short of the estimated ($0.49), and revenue of $0.57 million, below the anticipated $0.71 million.

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) shares shot up 8.1% during mid-day trading on Wednesday . The stock traded as high as $15.25 and last traded at $15.10. 216,841 shares changed hands during trading, a decline of 36% from the average session volume of 337,058 shares. The stock had previously closed at $13.97.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.50.

Upstream Bio Stock Up 1.5%

The stock has a fifty day moving average price of $11.38 and a 200-day moving average price of $9.47.

Upstream Bio (NASDAQ:UPB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.02). The firm had revenue of $0.57 million during the quarter, compared to analyst estimates of $0.71 million. Sell-side analysts forecast that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in Upstream Bio in the 4th quarter valued at approximately $25,000. Legal & General Group Plc acquired a new stake in Upstream Bio during the fourth quarter valued at $28,000. New York State Common Retirement Fund acquired a new stake in Upstream Bio during the first quarter valued at $29,000. Summit Investment Advisors Inc. bought a new position in Upstream Bio during the fourth quarter valued at about $30,000. Finally, CWM LLC raised its holdings in Upstream Bio by 107.5% during the second quarter. CWM LLC now owns 3,312 shares of the company's stock valued at $36,000 after buying an additional 1,716 shares in the last quarter.

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.