Upstream Bio (NASDAQ:UPB) Trading Down 10.4% - Time to Sell?

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

Analyst Upgrades and Downgrades

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

Upstream Bio Trading Down 16.6 %

The firm has a fifty day simple moving average of $20.60.

Upstream Bio (NASDAQ:UPB - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $0.83 million. As a group, analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Insider Transactions at Upstream Bio

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