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

Geode Capital Management LLC increased its stake in shares of Upstream Bio, Inc. (NASDAQ:UPB) by 57.5% in the second quarter, Holdings Channel.com reports. The fund owned 646,635 shares of the company’s stock after purchasing an additional 235,958 shares during the period. Geode Capital Management LLC’s holdings in Upstream Bio were worth $7,101,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in Upstream Bio by 107.5% in the 2nd quarter. CWM LLC now owns 3,312 shares of the company’s stock valued at $36,000 after acquiring an additional 1,716 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Upstream Bio during the first quarter valued at about $78,000. ADAR1 Capital Management LLC bought a new stake in shares of Upstream Bio in the first quarter worth about $92,000. AQR Capital Management LLC bought a new stake in shares of Upstream Bio in the first quarter worth about $115,000. Finally, Nuveen LLC purchased a new stake in shares of Upstream Bio in the first quarter worth about $138,000.

Analyst Ratings Changes

Several research firms have weighed in on UPB. Lifesci Capital began coverage on Upstream Bio in a report on Tuesday. They set an “outperform” rating and a $43.00 price target for the company. Evercore ISI started coverage on Upstream Bio in a report on Tuesday, November 18th. They set an “outperform” rating and a $40.00 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. Finally, Truist Financial began coverage on shares of Upstream Bio in a report on Tuesday, October 14th. They issued a “buy” rating and a $47.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Upstream Bio has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Upstream Bio Price Performance

NASDAQ:UPB opened at $27.75 on Friday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -14.76 and a beta of 1.83. The business has a 50 day simple moving average of $23.40 and a 200-day simple moving average of $17.16. Upstream Bio, Inc. has a 1 year low of $5.14 and a 1 year high of $33.00.

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

Upstream Bio Profile

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.