Upstream Bio (NASDAQ:UPB) Trading Up 8.5% - Here's Why

Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) shares rose 8.5% during trading on Friday . The company traded as high as $17.75 and last traded at $17.69. Approximately 60,601 shares traded hands during trading, a decline of 47% from the average daily volume of 113,860 shares. The stock had previously closed at $16.30.

Analyst Upgrades and Downgrades

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

Upstream Bio Price Performance

The business has a fifty day moving average price of $21.49.

Upstream Bio (NASDAQ:UPB - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) earnings per share for the quarter, missing the consensus estimate 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, equities analysts expect that Upstream Bio, Inc. will post -4.3 EPS for the current fiscal year.

Insider Buying and Selling at Upstream Bio

In other news, Director Erez Chimovits purchased 825,000 shares of Upstream Bio stock in a transaction on Tuesday, October 15th. The stock was purchased at an average price of $17.00 per share, with a total value of $14,025,000.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was acquired 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 directly 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 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.