Upstream Bio (NASDAQ:UPB) Earns Buy Rating from Analysts at Truist Financial

Truist Financial assumed coverage on shares of Upstream Bio (NASDAQ:UPBFree Report) in a report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $47.00 target price on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Upstream Bio in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

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Upstream Bio Stock Up 2.7%

NASDAQ:UPB opened at $22.28 on Tuesday. Upstream Bio has a twelve month low of $5.14 and a twelve month high of $29.46. The stock’s 50 day moving average price is $18.08 and its two-hundred day moving average price is $12.91.

Upstream Bio (NASDAQ:UPBGet Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.13). Upstream Bio had a negative return on equity of 35.90% and a negative net margin of 3,836.58%.The company had revenue of $0.94 million for the quarter, compared to analyst estimates of $0.32 million. Sell-side analysts anticipate that Upstream Bio will post -4.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Upstream Bio by 229.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,097 shares of the company’s stock valued at $34,000 after buying an additional 2,158 shares in the last quarter. Bain Capital Life Sciences Investors LLC grew its holdings in Upstream Bio by 6.3% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 2,439,538 shares of the company’s stock valued at $26,786,000 after buying an additional 144,216 shares in the last quarter. Bank of America Corp DE grew its holdings in Upstream Bio by 71.2% in the 2nd quarter. Bank of America Corp DE now owns 18,031 shares of the company’s stock valued at $198,000 after buying an additional 7,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Upstream Bio by 85.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,084 shares of the company’s stock valued at $210,000 after buying an additional 8,788 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Upstream Bio in the 2nd quarter valued at $145,000.

About Upstream Bio

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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.

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Analyst Recommendations for Upstream Bio (NASDAQ:UPB)

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