Upstream Bio, Inc.’s Quiet Period Set To End on November 20th (NASDAQ:UPB)

Upstream Bio’s (NASDAQ:UPB) quiet period will end on Wednesday, November 20th. Upstream Bio had issued 15,000,000 shares in its initial public offering on October 11th. The total size of the offering was $255,000,000 based on an initial share price of $17.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

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

Upstream Bio Trading Up 0.1 %

Shares of Upstream Bio stock opened at $25.94 on Friday. Upstream Bio has a 52 week low of $20.74 and a 52 week high of $29.46.

Upstream Bio (NASDAQ:UPB) last posted its earnings results on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing analysts’ consensus estimates 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. Research analysts predict that Upstream Bio will post -4.34 earnings per share for the current year.

Insider Transactions at Upstream Bio

In other Upstream Bio news, 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, with a total value of $19,975,000.00. Following the transaction, the insider now owns 1,175,000 shares of the company’s stock, valued at approximately $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 the SEC website. Also, Director Erez Chimovits purchased 825,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $14,025,000.00. Following the acquisition, the director now owns 4,554,873 shares of the company’s stock, valued at approximately $77,432,841. The trade was a 22.12 % increase in their ownership of the stock. 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.