TD Cowen Initiates Coverage on Upstream Bio (NASDAQ:UPB)

TD Cowen assumed coverage on shares of Upstream Bio (NASDAQ:UPB) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating on the stock.

Upstream Bio Stock Performance

Shares of NASDAQ UPB opened at $26.18 on Tuesday. Upstream Bio has a 52 week low of $20.74 and a 52 week high of $29.46.

Insider Activity

In other Upstream Bio news, Director Erez Chimovits bought 825,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average cost of $17.00 per share, with a total value of $14,025,000.00. Following the completion of the purchase, the director now directly owns 4,554,873 shares of the company’s stock, valued at $77,432,841. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the acquisition, the insider now owns 1,175,000 shares of the company’s stock, valued at $19,975,000. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erez Chimovits bought 825,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $14,025,000.00. Following the purchase, the director now directly owns 4,554,873 shares in the company, valued at approximately $77,432,841. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

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.