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

Upstream Bio, Inc. (NASDAQ:UPB) reached a new 52-week low on Friday . The stock traded as low as $14.69 and last traded at $14.69, with a volume of 50433 shares traded. The stock had previously closed at $16.19.

Analysts Set New Price Targets

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

Upstream Bio Stock Performance

The stock’s 50-day moving average price is $20.60.

Upstream Bio (NASDAQ:UPB) last released its earnings results 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 firm had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $0.83 million. On average, analysts anticipate that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Buying and Selling at Upstream Bio

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