Upstream Bio (NASDAQ:UPB) Trading 4.2% Higher - Still a Buy?

Key Points

• Upstream Bio's shares increased by 4.2% to close at $18.06, despite a significant decline in trading volume compared to its average session.
• Wall Street analysts have upgraded the stock from a "sell" rating to a "hold" rating, with a consensus rating of "Buy" and an average price target of $56.50.
• The company reported disappointing earnings, with an EPS of ($0.74) that missed estimates, but achieved revenue of $0.94 million, surpassing expectations.

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) shares traded up 4.2% on Tuesday . The stock traded as high as $17.56 and last traded at $18.06. 34,807 shares were traded during trading, a decline of 91% from the average session volume of 379,880 shares. The stock had previously closed at $17.34.

Wall Street Analyst Weigh In

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, Upstream Bio presently has a consensus rating of "Buy" and an average price target of $56.50.

Upstream Bio Price Performance

The business's 50-day simple moving average is $16.73 and its 200 day simple moving average is $11.91.

Upstream Bio (NASDAQ:UPB - Get Free Report) last posted its 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). 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 during the quarter, compared to the consensus estimate of $0.32 million. On average, equities analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bain Capital Life Sciences Investors LLC boosted its stake in shares of Upstream Bio by 6.3% during the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 2,439,538 shares of the company's stock worth $26,786,000 after acquiring an additional 144,216 shares during the last quarter. Norges Bank purchased a new position in shares of Upstream Bio during the 2nd quarter worth $10,650,000. Geode Capital Management LLC boosted its stake in shares of Upstream Bio by 57.5% during the 2nd quarter. Geode Capital Management LLC now owns 646,635 shares of the company's stock worth $7,101,000 after acquiring an additional 235,958 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Upstream Bio by 5.8% during the 1st quarter. Woodline Partners LP now owns 557,063 shares of the company's stock worth $3,409,000 after acquiring an additional 30,552 shares during the last quarter. Finally, Parkman Healthcare Partners LLC purchased a new position in shares of Upstream Bio during the 1st quarter worth $1,429,000.

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.

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