Upstream Bio (NASDAQ:UPB) Reaches New 12-Month Low – Time to Sell?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.04 and last traded at $17.04, with a volume of 219283 shares traded. The stock had previously closed at $19.63.

Analysts Set New Price Targets

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

Upstream Bio Trading Down 17.9 %

The business has a fifty day simple moving average of $23.22.

Upstream Bio (NASDAQ:UPB) last announced its earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($6.38). The firm had revenue of $0.61 million during the quarter, compared to analyst estimates of $0.83 million. As a group, research 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 news, Director Erez Chimovits bought 825,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was bought at an average price 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 $77,432,841. The trade was a 22.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the 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 $19,975,000.00. Following the completion of the acquisition, the insider now directly owns 1,175,000 shares in the company, valued at approximately $19,975,000. The trade was a ∞ 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.