Upstream Bio (NASDAQ:UPB) Trading Up 10% - Still a Buy?

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

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.50.

Upstream Bio Trading Up 15.8%

The stock has a fifty day moving average price of $10.61 and a two-hundred day moving average price of $9.49.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UPB. Woodline Partners LP increased its position in 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. Parkman Healthcare Partners LLC acquired a new stake in Upstream Bio during the first quarter worth about $1,429,000. AQR Capital Management LLC acquired a new stake in Upstream Bio during the first quarter worth about $115,000. ADAR1 Capital Management LLC acquired a new stake in shares of Upstream Bio in the 1st quarter valued at approximately $92,000. Finally, Velan Capital Investment Management LP acquired a new position in shares of Upstream Bio during the first quarter worth $655,000.

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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