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

Upstream Bio, Inc. (NASDAQ:UPB)’s share price was up 8.5% during mid-day trading on Friday . The stock traded as high as $17.75 and last traded at $17.69. Approximately 60,601 shares traded hands 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 analysts recently commented on the stock. TD Cowen began coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They set a “buy” rating for the company. William Blair initiated coverage on shares of Upstream Bio in a research report on Tuesday, November 5th. They set an “outperform” rating for the company. Piper Sandler assumed coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $75.00 target price for the company. Finally, 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 price target on the stock.

Upstream Bio Trading Up 12.6 %

The stock’s fifty day simple moving average is $21.49.

Upstream Bio (NASDAQ:UPB) last posted its earnings results on Thursday, November 7th. The company reported ($6.96) earnings per share 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 analyst estimates of $0.83 million. As a group, equities analysts anticipate that Upstream Bio, Inc. will post -4.3 earnings per share for the current year.

Insider Transactions at Upstream Bio

In other news, Director Erez Chimovits bought 825,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was bought at an average price of $17.00 per share, for a total transaction of $14,025,000.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ai Upstream Llc bought 1,175,000 shares of Upstream Bio stock in a transaction dated Tuesday, October 15th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $19,975,000.00. Following the completion of the acquisition, the insider now directly owns 1,175,000 shares in the company, valued at $19,975,000. This represents a ? 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.