Upstream Bio (NASDAQ:UPB) Stock Price Up 6.9% – Time to Buy?

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price 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 changed 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 Analysts Forecast Growth

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

Upstream Bio Stock Up 6.1%

The company’s fifty day moving average price is $24.53 and its two-hundred day moving average price is $18.06. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -15.49 and a beta of 1.83.

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

Institutional Trading of Upstream Bio

Institutional investors have recently made changes to their positions in the business. Nuveen LLC acquired a new position in Upstream Bio during the first quarter worth $138,000. Velan Capital Investment Management LP bought a new stake in Upstream Bio during the first quarter worth $655,000. ADAR1 Capital Management LLC acquired a new stake in Upstream Bio in the first quarter valued at $92,000. AQR Capital Management LLC acquired a new stake in Upstream Bio in the 1st quarter valued at about $115,000. Finally, Parkman Healthcare Partners LLC acquired a new stake in Upstream Bio in the 1st quarter valued at about $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.