Geode Capital Management LLC Buys 235,958 Shares of Upstream Bio, Inc. $UPB

Geode Capital Management LLC boosted its stake in Upstream Bio, Inc. (NASDAQ:UPB) by 57.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 646,635 shares of the company’s stock after purchasing an additional 235,958 shares during the period. Geode Capital Management LLC owned approximately 1.20% of Upstream Bio worth $7,101,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Upstream Bio by 107.5% in the 2nd quarter. CWM LLC now owns 3,312 shares of the company’s stock worth $36,000 after buying an additional 1,716 shares during the last quarter. XTX Topco Ltd purchased a new stake in Upstream Bio during the first quarter valued at $78,000. ADAR1 Capital Management LLC purchased a new stake in Upstream Bio during the first quarter valued at $92,000. AQR Capital Management LLC bought a new position in Upstream Bio in the first quarter valued at about $115,000. Finally, Nuveen LLC purchased a new position in Upstream Bio in the first quarter worth about $138,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of Upstream Bio in a research note on Tuesday, October 14th. They issued a “buy” rating and a $47.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Upstream Bio in a research report on Wednesday, October 8th. Lifesci Capital started coverage on shares of Upstream Bio in a research note on Tuesday. They set an “outperform” rating and a $43.00 price target on the stock. Finally, Evercore ISI began coverage on Upstream Bio in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $40.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Upstream Bio Price Performance

Shares of UPB stock opened at $27.75 on Friday. Upstream Bio, Inc. has a one year low of $5.14 and a one year high of $33.00. The company’s fifty day moving average price is $23.40 and its 200-day moving average price is $17.16. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -14.76 and a beta of 1.83.

Upstream Bio (NASDAQ:UPB) last issued its earnings results on Wednesday, November 5th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.15. Upstream Bio had a negative net margin of 4,366.77% and a negative return on equity of 28.71%. The company had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.65 million. Equities research analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

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.