Upstream Bio (NASDAQ:UPB) Trading 8.5% Higher – Still a Buy?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price rose 8.5% during mid-day trading on Friday . The company 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 brokerages have issued reports on UPB. William Blair initiated coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They issued an “outperform” rating for the company. Piper Sandler assumed coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $75.00 price objective on the stock. TD Cowen assumed coverage on Upstream Bio in a report on Tuesday, November 5th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. assumed coverage on Upstream Bio in a research report on Tuesday, November 5th. They set an “overweight” rating and a $38.00 price objective on the stock.

Upstream Bio Stock Up 11.1 %

The firm’s 50-day moving average is $21.63.

Upstream Bio (NASDAQ:UPB) last issued 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 firm had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $0.83 million. As a group, equities analysts expect that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Transactions at Upstream Bio

In related news, Director Erez Chimovits acquired 825,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average price of $17.00 per share, for a total transaction 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. The trade was a 22.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 bought at an average cost 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 $19,975,000. The trade was a ∞ increase in their ownership of the stock. 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.