Upstream Bio (NASDAQ:UPB) Sees Large Volume Increase – Time to Buy?

Upstream Bio, Inc. (NASDAQ:UPB) shares saw unusually-high trading volume on Friday . Approximately 2,234,547 shares were traded during trading, an increase of 114% from the previous session’s volume of 1,042,253 shares.The stock last traded at $9.8690 and had previously closed at $12.80.

Analysts Set New Price Targets

A number of research firms have commented on UPB. Lifesci Capital assumed coverage on Upstream Bio in a research note on Tuesday, December 2nd. They issued an “outperform” rating and a $43.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Upstream Bio in a report on Wednesday, January 21st. Mizuho raised shares of Upstream Bio to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Evercore started coverage on shares of Upstream Bio in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Upstream Bio has an average rating of “Moderate Buy” and a consensus price target of $45.25.

Upstream Bio Stock Performance

The firm’s 50-day moving average price is $28.63 and its 200 day moving average price is $23.22. The company has a market cap of $484.25 million, a price-to-earnings ratio of -4.67 and a beta of 1.90.

Hedge Funds Weigh In On Upstream Bio

Several hedge funds have recently added to or reduced their stakes in UPB. Rafferty Asset Management LLC boosted its holdings in Upstream Bio by 12.1% during the fourth quarter. Rafferty Asset Management LLC now owns 38,683 shares of the company’s stock worth $1,050,000 after buying an additional 4,162 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Upstream Bio in the fourth quarter worth about $8,100,000. State Street Corp increased its holdings in shares of Upstream Bio by 18.4% in the fourth quarter. State Street Corp now owns 1,319,226 shares of the company’s stock worth $35,817,000 after acquiring an additional 204,645 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Upstream Bio by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 36,794 shares of the company’s stock worth $999,000 after purchasing an additional 11,634 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Upstream Bio during the 4th quarter valued at about $445,000.

About Upstream Bio

Upstream Bio, Inc is a clinical-stage biotechnology company focused on the development of next-generation prophylactic vaccines and immuno-oncology therapies. Leveraging a proprietary viral vector platform, the company aims to deliver optimized antigen payloads that stimulate robust and durable immune responses against both infectious diseases and cancer targets. Upstream Bio’s approach emphasizes safety, manufacturability and potential for rapid scale-up to address emerging public health challenges.

The company’s research and development pipeline includes multiple viral vector-based candidates in early clinical and preclinical stages.