Upstream Bio (NASDAQ:UPB) Trading 14.4% Higher – Here’s What Happened

Shares of Upstream Bio, Inc. (NASDAQ:UPB) were up 14.4% during trading on Wednesday . The stock traded as high as $9.35 and last traded at $9.29. Approximately 732,969 shares traded hands during trading, a decline of 47% from the average daily volume of 1,395,897 shares. The stock had previously closed at $8.12.

Analyst Ratings Changes

A number of brokerages recently commented on UPB. Mizuho upgraded shares of Upstream Bio to a “strong-buy” rating in a research note on Thursday, December 18th. Lifesci Capital began coverage on shares of Upstream Bio in a research report on Tuesday, December 2nd. They set an “outperform” rating and a $43.00 price objective for the company. Evercore started coverage on Upstream Bio in a report on Tuesday, November 18th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Upstream Bio in a research report on Wednesday, January 21st. One investment 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 company. According to data from MarketBeat.com, Upstream Bio has a consensus rating of “Moderate Buy” and a consensus target price of $45.25.

Upstream Bio Stock Up 14.1%

The stock has a fifty day moving average price of $21.12 and a two-hundred day moving average price of $22.23. The company has a market cap of $500.63 million, a price-to-earnings ratio of -4.92 and a beta of 2.96.

Institutional Trading of Upstream Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC grew its position in shares of Upstream Bio by 6.3% during the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 2,439,538 shares of the company’s stock worth $26,786,000 after purchasing an additional 144,216 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Upstream Bio by 57.5% in the second quarter. Geode Capital Management LLC now owns 646,635 shares of the company’s stock valued at $7,101,000 after buying an additional 235,958 shares in the last quarter. Norges Bank bought a new stake in shares of Upstream Bio in the second quarter valued at approximately $10,650,000. Virtus Investment Advisers LLC bought a new stake in shares of Upstream Bio in the second quarter valued at approximately $89,000. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Upstream Bio by 133.8% during 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 buying an additional 4,483 shares in the last quarter.

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.