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

Upstream Bio, Inc. (NASDAQ:UPB) shares traded up 5.7% on Monday . The stock traded as high as $17.14 and last traded at $17.14. 27,223 shares were traded during mid-day trading, a decline of 93% from the average session volume of 363,530 shares. The stock had previously closed at $16.21.

Wall Street Analyst Weigh In

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

Upstream Bio Stock Performance

The stock’s 50-day moving average price is $22.69.

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 business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.83 million. On average, analysts anticipate that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Activity

In other Upstream Bio news, Director Erez Chimovits purchased 825,000 shares of Upstream Bio stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average price of $17.00 per share, for a total transaction of $14,025,000.00. Following the completion of the transaction, the director now owns 4,554,873 shares of the company’s stock, valued at approximately $77,432,841. This trade represents a 22.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were acquired at an average price of $17.00 per share, with a total value of $19,975,000.00. Following 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.

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.