Upstream Bio (NASDAQ:UPB) Earns Overweight Rating from Analysts at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Upstream Bio (NASDAQ:UPB) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $75.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 198.21% from the company’s current price.

A number of other research firms have also recently issued reports on UPB. William Blair assumed coverage on Upstream Bio in a research report on Tuesday. They set an “outperform” rating on the stock. JPMorgan Chase & Co. started coverage on Upstream Bio in a research report on Tuesday. They set an “overweight” rating and a $38.00 target price for the company. Finally, TD Cowen initiated coverage on Upstream Bio in a report on Tuesday. They set a “buy” rating for the company.

Upstream Bio Stock Up 1.6 %

Shares of UPB opened at $25.15 on Tuesday. Upstream Bio has a 52 week low of $20.74 and a 52 week high of $27.68.

Insider Buying and Selling

In related news, Director Erez Chimovits bought 825,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was bought at an average cost of $17.00 per share, with a total value of $14,025,000.00. Following the completion of the purchase, the director now owns 4,554,873 shares in the company, valued at approximately $77,432,841. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Erez Chimovits acquired 825,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased 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 directly owns 4,554,873 shares in the company, valued at $77,432,841. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ai Upstream Llc bought 1,175,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were bought at an average price of $17.00 per share, with a total value of $19,975,000.00. Following the completion of the transaction, the insider now directly owns 1,175,000 shares in the company, valued at approximately $19,975,000. 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.