Squarepoint Ops LLC Purchases 246,278 Shares of Upstream Bio, Inc. $UPB

Squarepoint Ops LLC increased its position in shares of Upstream Bio, Inc. (NASDAQ:UPB) by 551.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 290,904 shares of the company’s stock after purchasing an additional 246,278 shares during the quarter. Squarepoint Ops LLC’s holdings in Upstream Bio were worth $2,013,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in Upstream Bio in the 2nd quarter valued at about $33,000. Persistent Asset Partners Ltd bought a new stake in Upstream Bio during the second quarter worth $34,000. ProShare Advisors LLC bought a new stake in Upstream Bio during the fourth quarter worth $227,000. Hsbc Holdings PLC purchased a new position in Upstream Bio in the second quarter worth $78,000. Finally, Canada Pension Plan Investment Board purchased a new position in Upstream Bio in the second quarter worth $80,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Upstream Bio from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Weiss Ratings raised shares of Upstream Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 17th. Wall Street Zen downgraded shares of Upstream Bio from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Truist Financial reduced their price target on shares of Upstream Bio to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of Upstream Bio in a report on Wednesday, September 2nd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Upstream Bio has an average rating of “Hold” and an average price target of $29.67.

Upstream Bio Trading Up 1.4%

Upstream Bio stock opened at $5.81 on Tuesday. Upstream Bio, Inc. has a 12 month low of $5.65 and a 12 month high of $33.68. The business’s 50 day simple moving average is $6.78 and its 200 day simple moving average is $7.80. The company has a market cap of $318.21 million, a price-to-earnings ratio of -2.00 and a beta of 1.28.

Upstream Bio (NASDAQ:UPB) last released its earnings results on Tuesday, August 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.01. Upstream Bio had a negative return on equity of 48.40% and a negative net margin of 4,955.67%.The business had revenue of $0.77 million during the quarter, compared to the consensus estimate of $0.56 million. As a group, equities research analysts forecast that Upstream Bio, Inc. will post -2.84 earnings per share for the current fiscal year.

About Upstream Bio

Upstream Bio, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for inflammatory and immune-mediated diseases. The company’s research is centered on targeting biological pathways involved in chronic inflammation, with the goal of addressing conditions that may not be adequately controlled by existing therapies.

Upstream Bio’s lead product candidate is verekitug, a monoclonal antibody designed to block thymic stromal lymphopoietin (TSLP), an epithelial-cell-derived cytokine that plays a role in initiating and sustaining allergic and inflammatory responses.