Upstream Bio (NASDAQ:UPB) Shares Down 10.4% – Here’s Why

Upstream Bio, Inc. (NASDAQ:UPB)’s share price was down 10.4% during mid-day trading on Monday . The company traded as low as $12.24 and last traded at $12.27. Approximately 20,755 shares changed hands during trading, a decline of 91% from the average daily volume of 220,907 shares. The stock had previously closed at $13.70.

Wall Street Analyst Weigh In

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

Upstream Bio Stock Performance

The business has a 50-day moving average price of $20.60.

Upstream Bio (NASDAQ:UPB) last posted its earnings results 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 business had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $0.83 million. Equities analysts predict that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Upstream Bio

In other news, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were acquired at an average price 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 filing with the SEC, which is available through this link. Also, Director Erez Chimovits acquired 825,000 shares of Upstream Bio stock in a transaction dated 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 transaction, the director now directly owns 4,554,873 shares in the company, valued at approximately $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

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.