Upstream Bio (NASDAQ:UPB) Shares Down 7% – Should You Sell?

Shares of Upstream Bio, Inc. (NASDAQ:UPB) fell 7% during mid-day trading on Monday . The company traded as low as $17.05 and last traded at $17.07. 44,088 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 161,108 shares. The stock had previously closed at $18.35.

Wall Street Analyst Weigh In

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

Upstream Bio Price Performance

The business’s 50-day simple moving average is $21.49.

Upstream Bio (NASDAQ:UPB) last released its earnings results on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing the consensus estimate of ($0.58) by ($6.38). The business had revenue of $0.61 million during the quarter, compared to analyst estimates of $0.83 million. Analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current fiscal year.

Insider Activity

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