Norges Bank Acquires New Position in Upstream Bio, Inc. $UPB

Norges Bank bought a new position in shares of Upstream Bio, Inc. (NASDAQ:UPB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 969,916 shares of the company’s stock, valued at approximately $10,650,000. Norges Bank owned about 1.80% of Upstream Bio at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in shares of Upstream Bio by 8.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,469 shares of the company’s stock worth $181,000 after buying an additional 1,275 shares in the last quarter. Legal & General Group Plc grew its position in Upstream Bio by 83.0% in the second quarter. Legal & General Group Plc now owns 3,174 shares of the company’s stock valued at $35,000 after acquiring an additional 1,440 shares during the last quarter. CWM LLC raised its stake in Upstream Bio by 107.5% during the second quarter. CWM LLC now owns 3,312 shares of the company’s stock worth $36,000 after acquiring an additional 1,716 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Upstream Bio by 95.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,558 shares of the company’s stock worth $39,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Upstream Bio by 133.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,833 shares of the company’s stock worth $86,000 after acquiring an additional 4,483 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UPB shares. Truist Financial assumed coverage on shares of Upstream Bio in a report on Tuesday, October 14th. They set a “buy” rating and a $47.00 price target on the stock. Lifesci Capital began coverage on shares of Upstream Bio in a research report on Tuesday, December 2nd. They issued an “outperform” rating and a $43.00 target price on the stock. Evercore ISI initiated coverage on shares of Upstream Bio in a research note on Tuesday, November 18th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Upstream Bio in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.33.

Upstream Bio Price Performance

UPB opened at $28.36 on Wednesday. Upstream Bio, Inc. has a fifty-two week low of $5.14 and a fifty-two week high of $33.00. The company’s 50 day moving average price is $23.82 and its two-hundred day moving average price is $17.55. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -15.09 and a beta of 1.83.

Upstream Bio (NASDAQ:UPB) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.15. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.65 million. Upstream Bio had a negative net margin of 4,366.77% and a negative return on equity of 28.71%. As a group, equities research analysts predict that Upstream Bio, Inc. will post -4.3 EPS for the current year.

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.