Upstream Bio (NASDAQ:UPB) Sets New 1-Year Low - What's Next?

Shares of Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $14.69 and last traded at $14.69, with a volume of 50433 shares trading hands. The stock had previously closed at $16.19.

Wall Street Analysts Forecast Growth

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

Upstream Bio Price Performance

The company has a 50-day moving average price of $20.82.

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

Insider Buying and Selling

In related news, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average price of $17.00 per share, with a total value of $19,975,000.00. Following the completion of the transaction, the insider now owns 1,175,000 shares of the company's stock, valued at $19,975,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Erez Chimovits acquired 825,000 shares of the stock in a transaction dated 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 transaction, the director now owns 4,554,873 shares of the company's stock, valued at approximately $77,432,841. This 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.