Upstream Bio (NASDAQ:UPB) Stock Price Down 7% – Here’s Why

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price dropped 7% on Monday . The stock traded as low as $17.05 and last traded at $17.07. Approximately 44,088 shares changed hands during trading, a decline of 73% from the average daily volume of 161,108 shares. The stock had previously closed at $18.35.

Wall Street Analyst Weigh In

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

Upstream Bio Trading Up 0.1 %

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

Upstream Bio (NASDAQ:UPB) last announced its earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($6.38). The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.83 million. As a group, equities analysts expect that Upstream Bio, Inc. will post -4.3 EPS for the current fiscal year.

Insider Buying and Selling at Upstream Bio

In other news, Director Erez Chimovits bought 825,000 shares of Upstream Bio stock in a transaction that occurred on Tuesday, October 15th. The stock was bought 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the acquisition, the insider now directly 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 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.