Upstream Bio (NASDAQ:UPB) Shares Down 5% – Should You Sell?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price dropped 5% on Monday . The stock traded as low as $18.80 and last traded at $19.23. Approximately 115,504 shares traded hands during trading, a decline of 58% from the average daily volume of 272,732 shares. The stock had previously closed at $20.25.

Wall Street Analyst Weigh In

Several research firms have recently commented on UPB. TD Cowen initiated coverage on Upstream Bio in a research note on Tuesday, November 5th. They issued a “buy” rating for the company. Piper Sandler started coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $75.00 price target for the company. William Blair began coverage on Upstream Bio in a research note on Tuesday, November 5th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They issued an “overweight” rating and a $38.00 target price for the company.

Upstream Bio Stock Down 17.9 %

The stock has a 50 day simple moving average of $23.22.

Upstream Bio (NASDAQ:UPB) last released its quarterly earnings data 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 analysts’ expectations of $0.83 million. Analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 cost of $17.00 per share, with a total value of $19,975,000.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Erez Chimovits bought 825,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was bought at an average price of $17.00 per share, with a total value of $14,025,000.00. Following the acquisition, the director now owns 4,554,873 shares in the company, 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.

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.