Upstream Bio (NASDAQ:UPB) Shares Up 6.9% – Still a Buy?

Upstream Bio, Inc. (NASDAQ:UPB) shares shot up 6.9% during trading on Tuesday . The stock traded as high as $28.83 and last traded at $29.08. 559,688 shares traded hands during trading, an increase of 42% from the average session volume of 394,945 shares. The stock had previously closed at $27.20.

Wall Street Analyst Weigh In

UPB has been the subject of a number of research reports. Lifesci Capital began coverage on shares of Upstream Bio in a report on Tuesday, December 2nd. They set an “outperform” rating and a $43.00 price target for the company. Truist Financial initiated coverage on Upstream Bio in a report on Tuesday, October 14th. They issued a “buy” rating and a $47.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Upstream Bio in a report on Wednesday, October 8th. Evercore ISI initiated coverage on shares of Upstream Bio in a research report on Tuesday, November 18th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Mizuho began coverage on Upstream Bio in a research report on Wednesday. They issued an “outperform” rating and a $51.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Upstream Bio Trading Up 5.4%

The firm has a market cap of $1.61 billion, a P/E ratio of -15.88 and a beta of 1.83. The stock’s fifty day moving average is $25.14 and its two-hundred day moving average is $18.35.

Upstream Bio (NASDAQ:UPB) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.15. Upstream Bio had a negative return on equity of 28.71% and a negative net margin of 4,366.77%.The company had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.65 million. On average, analysts forecast that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Institutional Trading of Upstream Bio

Several hedge funds have recently added to or reduced their stakes in UPB. Nuveen LLC purchased a new stake in Upstream Bio in the first quarter worth $138,000. Velan Capital Investment Management LP bought a new position in Upstream Bio during the first quarter valued at approximately $655,000. ADAR1 Capital Management LLC purchased a new stake in Upstream Bio in the first quarter worth approximately $92,000. AQR Capital Management LLC bought a new stake in Upstream Bio in the 1st quarter worth approximately $115,000. Finally, Parkman Healthcare Partners LLC purchased a new stake in Upstream Bio during the 1st quarter valued at $1,429,000.

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.