Upstream Bio (NASDAQ:UPB) Trading 5.9% Higher - Still a Buy?

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 traded up 5.9% during trading on Tuesday . The company traded as high as $17.65 and last traded at $17.78. 33,527 shares changed hands during trading, a decline of 91% from the average session volume of 370,824 shares. The stock had previously closed at $16.79.

Wall Street Analyst Weigh In

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

Upstream Bio Price Performance

The business has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $11.34.

Upstream Bio (NASDAQ:UPB - Get Free Report) last issued its earnings results 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). Upstream Bio had a negative return on equity of 35.90% and a negative net margin of 3,836.58%.The business had revenue of $0.94 million for the quarter, compared to analyst estimates of $0.32 million. Equities research analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upstream Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in shares of Upstream Bio during the 4th quarter worth about $25,000. Legal & General Group Plc raised its position in shares of Upstream Bio by 83.0% during the 2nd quarter. Legal & General Group Plc now owns 3,174 shares of the company's stock worth $35,000 after acquiring an additional 1,440 shares in the last quarter. CWM LLC increased its position in Upstream Bio by 107.5% during the second quarter. CWM LLC now owns 3,312 shares of the company's stock worth $36,000 after buying an additional 1,716 shares during the period. Ameritas Investment Partners Inc. increased its position in Upstream Bio by 95.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,558 shares of the company's stock worth $39,000 after buying an additional 1,736 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in Upstream Bio during the first quarter worth approximately $29,000.

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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