Upstream Bio (NASDAQ:UPB) Trading Down 3% - Here's Why

Shares of Upstream Bio, Inc. (NASDAQ:UPB - Get Free Report) traded down 3% on Thursday . The company traded as low as $18.15 and last traded at $18.81. 4,187 shares were traded during mid-day trading, a decline of 99% from the average session volume of 356,755 shares. The stock had previously closed at $19.40.

Analyst Ratings Changes

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

Upstream Bio Stock Up 0.2 %

The business's fifty day simple moving average is $22.54.

Upstream Bio (NASDAQ:UPB - Get Free Report) last posted its quarterly 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 company had revenue of $0.61 million during the quarter, compared to analysts' expectations of $0.83 million. On average, analysts forecast that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Insider Buying and Selling at Upstream Bio

In related news, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the firm's 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 purchase, the insider now owns 1,175,000 shares of the company's stock, valued at $19,975,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erez Chimovits bought 825,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $14,025,000.00. Following the completion of 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.