Upstream Bio (NASDAQ:UPB) Shares Up 10% - Should You Buy?

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) was up 10% during mid-day trading on Thursday . The stock traded as high as $12.46 and last traded at $12.68. Approximately 225,091 shares traded hands during trading, a decline of 32% from the average daily volume of 330,347 shares. The stock had previously closed at $11.53.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Upstream Bio from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.50.

Upstream Bio Stock Up 5.2%

The stock has a fifty day moving average of $10.80 and a 200-day moving average of $9.36.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in shares of Upstream Bio in the 4th quarter worth approximately $25,000. Legal & General Group Plc acquired a new position in Upstream Bio in the fourth quarter worth $28,000. Summit Investment Advisors Inc. acquired a new position in Upstream Bio in the fourth quarter worth $30,000. Tower Research Capital LLC TRC bought a new position in Upstream Bio in the 4th quarter valued at $47,000. Finally, CWM LLC boosted its position in Upstream Bio by 107.5% in the 2nd quarter. CWM LLC now owns 3,312 shares of the company's stock valued at $36,000 after buying an additional 1,716 shares during the last quarter.

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.