Upstream Bio (NASDAQ:UPB) Shares Down 7% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Upstream Bio Trading Down 7.5 %

The stock has a 50 day simple moving average of $21.49.

Upstream Bio (NASDAQ:UPB) last posted its quarterly earnings data 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 company had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.83 million. On average, analysts predict that Upstream Bio, Inc. will post -4.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ai Upstream Llc bought 1,175,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Erez Chimovits purchased 825,000 shares of Upstream Bio stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average cost 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 represents a 22.12 % 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.