Upstream Bio (NASDAQ:UPB) Hits New 52-Week High – Time to Buy?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $26.99 and last traded at $26.4560, with a volume of 408950 shares changing hands. The stock had previously closed at $25.55.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Upstream Bio in a research note on Wednesday, October 8th. Truist Financial assumed coverage on shares of Upstream Bio in a research note on Tuesday, October 14th. They set a “buy” rating and a $47.00 price objective for the company. Finally, Evercore ISI assumed coverage on shares of Upstream Bio in a report on Tuesday, November 18th. They set an “outperform” rating and a $40.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.50.

Upstream Bio Stock Performance

The company has a market cap of $1.41 billion and a price-to-earnings ratio of -13.86. The company’s fifty day moving average is $21.22 and its two-hundred day moving average is $15.96.

Upstream Bio (NASDAQ:UPB) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.15. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.65 million. Upstream Bio had a negative net margin of 4,366.77% and a negative return on equity of 28.71%. On average, sell-side analysts anticipate that Upstream Bio, Inc. will post -4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Upstream Bio

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund purchased a new stake in shares of Upstream Bio in the first quarter worth about $29,000. XTX Topco Ltd purchased a new position in Upstream Bio during the first quarter valued at approximately $78,000. Nuveen LLC acquired a new position in Upstream Bio in the first quarter valued at approximately $138,000. Velan Capital Investment Management LP purchased a new stake in Upstream Bio in the 1st quarter worth approximately $655,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Upstream Bio during the 1st quarter worth approximately $92,000.

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.