Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report)'s share price gapped down before the market opened 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 changing hands.
Analysts Set New Price Targets
A number of research firms have recently commented on UPB. Piper Sandler assumed coverage on Upstream Bio in a research report on Tuesday, November 5th. They set an "overweight" rating and a $75.00 target price for the company. William Blair initiated coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They issued an "outperform" rating for the company. TD Cowen started coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. started coverage on Upstream Bio in a report on Tuesday, November 5th. They issued an "overweight" rating and a $38.00 price objective for the company.
Check Out Our Latest Stock Report on UPB
Upstream Bio Trading Up 3.3 %
The firm has a 50 day simple moving average of $23.29.
Upstream Bio (NASDAQ:UPB - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($6.38). The company had revenue of $0.61 million during the quarter, compared to analysts' expectations of $0.83 million. Research analysts forecast that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Ai Upstream Llc bought 1,175,000 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the completion of the transaction, the insider now directly owns 1,175,000 shares of the company's stock, valued at approximately $19,975,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erez Chimovits purchased 825,000 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was acquired at an average cost of $17.00 per share, with a total value 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 $77,432,841. The trade was a 22.12 % increase in their position. The disclosure for this purchase can be found here.
Upstream Bio Company Profile
(
Get Free Report)
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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