Upstream Bio (NASDAQ:UPB) Shares Down 7% – Should You Sell?

Upstream Bio, Inc. (NASDAQ:UPB) fell 7% during mid-day trading on Monday . The company traded as low as $17.05 and last traded at $17.07. 44,088 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 161,108 shares. The stock had previously closed at $18.35.

Wall Street Analyst Weigh In

Several research firms have commented on UPB. Piper Sandler initiated coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They set an “overweight” rating and a $75.00 price objective for the company. 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 target price on the stock. William Blair assumed coverage on Upstream Bio in a report on Tuesday, November 5th. They set an “outperform” rating for the company. Finally, TD Cowen started coverage on Upstream Bio in a report on Tuesday, November 5th. They set a “buy” rating on the stock.

Upstream Bio Stock Performance

The company has a 50 day simple moving average of $21.17.

Upstream Bio (NASDAQ:UPB) last released 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 the consensus estimate of $0.83 million. Analysts anticipate that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Transactions at Upstream Bio

In other news, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the acquisition, the insider now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Erez Chimovits acquired 825,000 shares of Upstream Bio stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average cost 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 $77,432,841. This trade represents a 22.12 % 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.