Upstream Bio (NASDAQ:UPB) Stock Price Up 8.5% – Time to Buy?

Upstream Bio, Inc. (NASDAQ:UPB)’s stock price was up 8.5% during trading on Friday . The stock traded as high as $17.75 and last traded at $17.69. Approximately 60,601 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 113,860 shares. The stock had previously closed at $16.30.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UPB shares. TD Cowen started coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They issued a “buy” rating on the stock. Piper Sandler initiated 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 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. Finally, William Blair initiated coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They set an “outperform” rating on the stock.

Upstream Bio Trading Up 11.1 %

The firm has a 50 day moving average price of $21.63.

Upstream Bio (NASDAQ:UPB) last released its quarterly earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share 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 analysts’ expectations of $0.83 million. Analysts anticipate that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Transactions at Upstream Bio

In related news, Director Erez Chimovits purchased 825,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased 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 owns 4,554,873 shares in the company, valued at $77,432,841. This trade represents a 22.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ai Upstream Llc acquired 1,175,000 shares of the 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 $19,975,000.00. Following the purchase, the insider now directly owns 1,175,000 shares of the company’s stock, valued at $19,975,000. The trade was a ∞ 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.