Norges Bank purchased a new position in Upstream Bio, Inc. (NASDAQ:UPB – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,882,647 shares of the company’s stock, valued at approximately $78,264,000. Norges Bank owned 0.05% of Upstream Bio at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in shares of Upstream Bio in the fourth quarter worth approximately $29,000. Torren Management LLC bought a new position in shares of Upstream Bio in the fourth quarter worth approximately $30,000. BNP Paribas Financial Markets boosted its position in shares of Upstream Bio by 229.8% in the second quarter. BNP Paribas Financial Markets now owns 3,097 shares of the company’s stock worth $34,000 after purchasing an additional 2,158 shares during the period. Legal & General Group Plc boosted its position in shares of Upstream Bio by 83.0% in the second quarter. Legal & General Group Plc now owns 3,174 shares of the company’s stock worth $35,000 after purchasing an additional 1,440 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Upstream Bio by 1,963.9% in the third quarter. Russell Investments Group Ltd. now owns 3,034 shares of the company’s stock worth $57,000 after purchasing an additional 2,887 shares during the period.
Wall Street Analysts Forecast Growth
UPB has been the subject of a number of recent analyst reports. HC Wainwright initiated coverage on shares of Upstream Bio in a research report on Wednesday. They issued a “buy” rating and a $36.00 price target for the company. Weiss Ratings lowered shares of Upstream Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Mizuho dropped their target price on shares of Upstream Bio from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Upstream Bio from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, Evercore lowered shares of Upstream Bio from an “outperform” rating to an “in-line” rating and set a $15.00 target price for the company. in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Upstream Bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.
Upstream Bio Stock Performance
Shares of NASDAQ:UPB opened at $7.05 on Friday. The firm has a fifty day moving average price of $9.05 and a 200 day moving average price of $17.50. Upstream Bio, Inc. has a fifty-two week low of $6.98 and a fifty-two week high of $33.68. The firm has a market cap of $383.66 million, a price-to-earnings ratio of -2.42 and a beta of 1.10.
Upstream Bio (NASDAQ:UPB – Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.03 million. Upstream Bio had a negative net margin of 4,718.96% and a negative return on equity of 43.82%. As a group, research analysts predict that Upstream Bio, Inc. will post -2.99 earnings per share for the current year.
Upstream Bio Company Profile
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.
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