Upstream Bio (NASDAQ:UPB) Shares Down 5% - Time to Sell?

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) shares fell 5% on Monday . The company traded as low as $18.80 and last traded at $19.23. 115,504 shares were traded during mid-day trading, a decline of 58% from the average session volume of 272,732 shares. The stock had previously closed at $20.25.

Analyst Upgrades and Downgrades

UPB has been the topic of a number of recent analyst reports. TD Cowen began coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued a "buy" rating 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 for the company. 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 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They set an "overweight" rating and a $38.00 target price for the company.

Upstream Bio Stock Down 6.1 %

The business's 50-day moving average price is $23.39.

Upstream Bio (NASDAQ:UPB - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share 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. As a group, analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ai Upstream Llc bought 1,175,000 shares of Upstream Bio stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average cost of $17.00 per share, with a total value of $19,975,000.00. Following the completion of the transaction, the insider now directly owns 1,175,000 shares in the company, valued at $19,975,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erez Chimovits acquired 825,000 shares of the firm'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 $14,025,000.00. Following the completion of the acquisition, the director now directly 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.

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.

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