Upstream Bio (NASDAQ:UPB) Trading Up 5.7% – What’s Next?

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price rose 5.7% during trading on Monday . The company traded as high as $17.14 and last traded at $17.14. Approximately 27,223 shares were traded during trading, a decline of 93% from the average daily volume of 363,530 shares. The stock had previously closed at $16.21.

Wall Street Analysts Forecast Growth

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

Upstream Bio Stock Performance

The company’s 50-day moving average is $22.80.

Upstream Bio (NASDAQ:UPB) last released its earnings results 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 business had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $0.83 million. On average, equities research analysts forecast that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Activity at Upstream Bio

In related news, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the completion of the acquisition, the insider now owns 1,175,000 shares of the company’s stock, valued at approximately $19,975,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erez Chimovits purchased 825,000 shares of the company’s stock in a transaction dated 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 completion of the purchase, 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 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.