Upstream Bio (NASDAQ:UPB) Shares Gap Down – Should You Sell?

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $19.01, but opened at $18.53. Upstream Bio shares last traded at $18.03, with a volume of 15,408 shares traded.

Wall Street Analyst Weigh In

A number of analysts have issued reports on UPB shares. Piper Sandler started coverage on Upstream Bio in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $75.00 price objective on the stock. William Blair assumed 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. started coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, TD Cowen began coverage on Upstream Bio in a research note on Tuesday, November 5th. They set a “buy” rating on the stock.

Upstream Bio Stock Performance

The business has a 50 day moving average price of $23.07.

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

Insiders Place Their Bets

In related news, Director Erez Chimovits bought 825,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was bought at an average price of $17.00 per share, for a total transaction of $14,025,000.00. Following the completion of the acquisition, the director now directly owns 4,554,873 shares in the company, valued at approximately $77,432,841. This represents a 22.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ai Upstream Llc bought 1,175,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were bought at an average cost 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 in the company, valued at approximately $19,975,000. This represents a ∞ 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.