Upstream Bio (NASDAQ:UPB) Shares Gap Down – Should You Sell?

Upstream Bio, Inc. (NASDAQ:UPB) shares gapped down prior to trading on Tuesday . The stock had previously closed at $19.01, but opened at $18.53. Upstream Bio shares last traded at $18.03, with a volume of 15,408 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. William Blair started coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. started coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $38.00 price objective on the stock. Piper Sandler assumed coverage on Upstream Bio in a research report on Tuesday, November 5th. They set an “overweight” rating and a $75.00 target price for the company. Finally, TD Cowen started coverage on Upstream Bio in a research note on Tuesday, November 5th. They set a “buy” rating on the stock.

Upstream Bio Stock Up 3.2 %

The firm has a 50 day moving average of $23.29.

Upstream Bio (NASDAQ:UPB) last issued 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 business had revenue of $0.61 million during the quarter, compared to analyst estimates of $0.83 million. As a group, equities 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 acquired 825,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average cost of $17.00 per share, with a total value of $14,025,000.00. Following the transaction, the director now directly owns 4,554,873 shares of the company’s stock, valued at $77,432,841. This trade represents a 22.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were bought at an average price 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 in the company, valued at $19,975,000. This represents a ∞ increase in their position. 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.