Upstream Bio (NASDAQ:UPB) Stock Price Down 5% – Here’s Why

Upstream Bio, Inc. (NASDAQ:UPB)’s share price was down 5% during mid-day trading on Monday . The company traded as low as $18.80 and last traded at $19.23. Approximately 115,504 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 272,732 shares. The stock had previously closed at $20.25.

Wall Street Analyst Weigh In

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

Upstream Bio Stock Performance

The business’s fifty day simple moving average is $23.22.

Upstream Bio (NASDAQ:UPB) last released its quarterly 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 company had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.83 million. Equities analysts expect 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 acquired 825,000 shares of the 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 transaction, 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 SEC, which can be accessed through this link. Also, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the completion of the transaction, the insider now directly owns 1,175,000 shares of the company’s stock, valued at $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.