Upstream Bio (NASDAQ:UPB) Now Covered by Evercore ISI

Evercore ISI initiated coverage on shares of Upstream Bio (NASDAQ:UPB) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $40.00 target price on the stock.

Several other brokerages have also weighed in on UPB. Weiss Ratings reissued a “sell (d-)” rating on shares of Upstream Bio in a report on Wednesday, October 8th. Truist Financial began coverage on shares of Upstream Bio in a research note on Tuesday, October 14th. They issued a “buy” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.50.

Upstream Bio Trading Down 0.5%

NASDAQ:UPB opened at $25.56 on Tuesday. Upstream Bio has a 12 month low of $5.14 and a 12 month high of $26.90. The firm’s 50 day moving average is $20.78 and its 200 day moving average is $15.60. The stock has a market capitalization of $1.38 billion and a PE ratio of -13.60.

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 business had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.65 million. Upstream Bio had a negative return on equity of 28.71% and a negative net margin of 4,366.77%. Research analysts predict that Upstream Bio will post -4.3 earnings per share for the current year.

Institutional Investors Weigh In On Upstream Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund bought a new position in shares of Upstream Bio in the first quarter valued at approximately $29,000. BNP Paribas Financial Markets lifted its stake in Upstream Bio by 229.8% in the 2nd 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 in the last quarter. Legal & General Group Plc boosted its holdings in Upstream Bio by 83.0% in the 2nd quarter. Legal & General Group Plc now owns 3,174 shares of the company’s stock valued at $35,000 after purchasing an additional 1,440 shares during the period. CWM LLC grew its position in shares of Upstream Bio by 107.5% during the 2nd quarter. CWM LLC now owns 3,312 shares of the company’s stock valued at $36,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Upstream Bio by 95.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,558 shares of the company’s stock valued at $39,000 after purchasing an additional 1,736 shares in the last quarter.

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.