Upstream Bio (NASDAQ:UPB) Trading Up 5.9% - What's Next?

Key Points

• Upstream Bio's share price rose by 5.9% to $17.78, with a significant decline in trading volume compared to its average session.
• Wall Street has upgraded Upstream Bio from a "sell" to a "hold" rating, with a consensus "Buy" rating and an average price target of $56.50.
• The company reported a loss of ($0.74) earnings per share, which was below the consensus estimate, despite generating revenue of $0.94 million for the quarter.

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report)'s share price rose 5.9% during trading on Tuesday . The stock traded as high as $17.65 and last traded at $17.78. Approximately 33,527 shares changed hands during trading, a decline of 91% from the average daily volume of 370,824 shares. The stock had previously closed at $16.79.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Upstream Bio from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Upstream Bio has a consensus rating of "Buy" and a consensus price target of $56.50.

Upstream Bio Stock Down 5.2%

The company has a fifty day moving average price of $16.04 and a two-hundred day moving average price of $11.54.

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 for the quarter, missing the consensus estimate of ($0.61) by ($0.13). The company had revenue of $0.94 million during the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upstream Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC grew its holdings in Upstream Bio by 6.3% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 2,439,538 shares of the company's stock worth $26,786,000 after purchasing an additional 144,216 shares during the period. Wellington Management Group LLP bought a new stake in shares of Upstream Bio during the fourth quarter worth approximately $25,632,000. Norges Bank bought a new stake in shares of Upstream Bio during the second quarter worth approximately $10,650,000. Geode Capital Management LLC boosted its holdings in shares of Upstream Bio by 57.5% during the second 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 period. Finally, Woodline Partners LP boosted its holdings in shares of Upstream Bio by 5.8% during the first 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 period.

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.