Upstream Bio (NASDAQ:UPB) Shares Down 10.4% – Time to Sell?

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price traded down 10.4% during mid-day trading on Monday . The company traded as low as $12.24 and last traded at $12.27. 20,755 shares changed hands during trading, a decline of 91% from the average session volume of 220,907 shares. The stock had previously closed at $13.70.

Analyst Upgrades and Downgrades

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

Upstream Bio Stock Performance

The business has a fifty day moving average price of $20.60.

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

Insider Buying and Selling

In related news, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the stock in a transaction dated 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 completion of the purchase, the insider now owns 1,175,000 shares of the company’s stock, valued at approximately $19,975,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erez Chimovits purchased 825,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of $17.00 per share, with a total value of $14,025,000.00. Following the transaction, 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 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.