Upstream Bio (NASDAQ:UPB) Stock Price Down 3% – Here’s Why

Upstream Bio, Inc. (NASDAQ:UPB) shares fell 3% on Thursday . The company traded as low as $18.15 and last traded at $18.81. 4,187 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 356,755 shares. The stock had previously closed at $19.40.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They set an “overweight” rating and a $38.00 price target for the company. William Blair initiated coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued an “outperform” rating for the company. TD Cowen began coverage on Upstream Bio in a research report on Tuesday, November 5th. They set a “buy” rating on the stock. Finally, Piper Sandler assumed coverage on Upstream Bio in a report on Tuesday, November 5th. They issued an “overweight” rating and a $75.00 price objective for the company.

Upstream Bio Trading Down 1.3 %

The stock has a fifty day moving average of $22.45.

Upstream Bio (NASDAQ:UPB) last posted its earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($6.38). The business had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $0.83 million. On average, equities analysts predict that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Buying and Selling at Upstream Bio

In other news, Director Erez Chimovits purchased 825,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average price of $17.00 per share, with a total value of $14,025,000.00. Following the completion of the acquisition, the director now owns 4,554,873 shares in the company, valued at $77,432,841. This trade represents a 22.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $19,975,000.00. Following the transaction, the insider now directly owns 1,175,000 shares of the company’s stock, valued at $19,975,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here.

Upstream Bio Company 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.