Upstream Bio (NASDAQ:UPB) Sets New 12-Month Low – What’s Next?

Upstream Bio, Inc. (NASDAQ:UPB) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $14.69 and last traded at $14.69, with a volume of 50433 shares changing hands. The stock had previously closed at $16.19.

Wall Street Analyst Weigh In

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

Upstream Bio Stock Performance

The firm has a 50-day moving average price of $20.82.

Upstream Bio (NASDAQ:UPB) last released its quarterly 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 company had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $0.83 million. Research analysts expect that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Insider Transactions at Upstream Bio

In other news, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was acquired at an average price 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 in the company, valued at approximately $19,975,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erez Chimovits purchased 825,000 shares of Upstream Bio stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $14,025,000.00. Following the transaction, 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.

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.