Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report)'s share price rose 7.8% on Friday . The company traded as high as $11.53 and last traded at $11.47. Approximately 182,540 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 334,687 shares. The stock had previously closed at $10.64.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded Upstream Bio from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Upstream Bio presently has a consensus rating of "Moderate Buy" and an average price target of $56.50.
Get Our Latest Stock Analysis on Upstream Bio
Upstream Bio Stock Performance
The stock's 50 day simple moving average is $9.54 and its 200-day simple moving average is $10.61.
Upstream Bio (NASDAQ:UPB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.02). The firm had revenue of $0.57 million for the quarter, compared to analysts' expectations of $0.71 million. Equities research analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. FMR LLC acquired a new position in Upstream Bio in the 4th quarter worth approximately $117,977,000. Orbimed Advisors LLC purchased a new stake in shares of Upstream Bio in the 4th quarter valued at $93,603,000. Decheng Capital LLC acquired a new stake in shares of Upstream Bio in the fourth quarter worth $54,010,000. TCG Crossover Management LLC purchased a new position in shares of Upstream Bio during the fourth quarter worth $44,856,000. Finally, Enavate Sciences GP LLC purchased a new stake in Upstream Bio in the fourth quarter valued at $40,438,000.
Upstream Bio Company Profile
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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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