Upstream Bio (NASDAQ:UPB) Stock Price Down 7% - What's Next?

Shares of Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) fell 7% on Monday . The company traded as low as $17.05 and last traded at $17.07. 44,088 shares changed hands during trading, a decline of 73% from the average session volume of 161,108 shares. The stock had previously closed at $18.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on UPB shares. TD Cowen started coverage on Upstream Bio in a report on Tuesday, November 5th. They issued a "buy" rating for the company. JPMorgan Chase & Co. began 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. Piper Sandler started coverage on shares of Upstream Bio in a research report on Tuesday, November 5th. They set an "overweight" rating and a $75.00 target price on the stock. Finally, William Blair assumed coverage on shares of Upstream Bio in a research report on Tuesday, November 5th. They set an "outperform" rating for the company.

Upstream Bio Price Performance

The company's 50-day simple moving average is $21.35.

Upstream Bio (NASDAQ:UPB - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($6.38). The company had revenue of $0.61 million for the quarter, compared to analysts' expectations of $0.83 million. Analysts forecast 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 acquired 1,175,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was 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 directly owns 1,175,000 shares in the company, valued at approximately $19,975,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Erez Chimovits acquired 825,000 shares of Upstream Bio stock in a transaction that occurred on 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 purchase, the director now directly owns 4,554,873 shares of the company's stock, valued at approximately $77,432,841. This trade 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.