Upstream Bio (NASDAQ:UPB) Shares Up 5.7% – Time to Buy?

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price rose 5.7% on Monday . The stock traded as high as $17.14 and last traded at $17.14. Approximately 27,223 shares changed hands 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

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

Upstream Bio Stock Performance

The business has a fifty day simple moving average of $22.80.

Upstream Bio (NASDAQ:UPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($6.38). The firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.83 million. Equities research analysts forecast that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Upstream Bio news, Director Erez Chimovits bought 825,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average cost of $17.00 per share, with a total value of $14,025,000.00. Following the acquisition, the director now owns 4,554,873 shares of the company’s stock, valued at $77,432,841. The trade was a 22.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were acquired at an average cost of $17.00 per share, with a total value of $19,975,000.00. Following 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 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.