Upstream Bio (NASDAQ:UPB) Reaches New 1-Year Low – Here’s Why

Upstream Bio, Inc. (NASDAQ:UPB)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $14.69 and last traded at $14.69, with a volume of 50433 shares trading hands. The stock had previously closed at $16.19.

Wall Street Analyst Weigh In

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

Upstream Bio Trading Down 15.4 %

The company has a fifty day moving average price of $20.60.

Upstream Bio (NASDAQ:UPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, equities analysts forecast that Upstream Bio, Inc. will post -4.3 EPS for the current fiscal year.

Insider Transactions at Upstream Bio

In related news, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average cost 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. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Erez Chimovits bought 825,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $14,025,000.00. Following the transaction, the director now owns 4,554,873 shares in the company, valued at $77,432,841. The trade was 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.