Upstream Bio (NASDAQ:UPB) Shares Gap Down – What’s Next?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price gapped down prior to trading 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 traded.

Wall Street Analyst Weigh In

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

Upstream Bio Stock Down 17.9 %

The stock has a fifty day moving average of $23.07.

Upstream Bio (NASDAQ:UPB) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 at Upstream Bio

In other Upstream Bio news, Director Erez Chimovits acquired 825,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average cost of $17.00 per share, with a total value of $14,025,000.00. Following the completion of the transaction, the director now directly owns 4,554,873 shares of the company’s stock, valued at approximately $77,432,841. This represents a 22.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ai Upstream Llc purchased 1,175,000 shares of Upstream Bio 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 $19,975,000.00. Following the completion of 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 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.