Upstream Bio, Inc.’s (NASDAQ:UPB) Quiet Period Set To Expire Tomorrow

Upstream Bio’s (NASDAQ:UPB) quiet period will end on Wednesday, November 20th. Upstream Bio had issued 15,000,000 shares in its 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 involved in the IPO are prevented 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, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UPB. Piper Sandler began coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They set an “overweight” rating and a $75.00 target price on the stock. TD Cowen started coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They set a “buy” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $38.00 price objective on the stock. Finally, William Blair started coverage on shares of Upstream Bio in a research note on Tuesday, November 5th. They issued an “outperform” rating on the stock.

Upstream Bio Price Performance

UPB opened at $23.77 on Tuesday. Upstream Bio has a fifty-two week low of $20.74 and a fifty-two week high of $29.46.

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 analysts’ consensus estimates of ($0.58) by ($6.38). The company had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.83 million. On average, analysts expect that Upstream Bio will post -4.3 earnings per share for the current fiscal year.

Insider Activity 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 acquired 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 owns 4,554,873 shares of the company’s stock, valued at approximately $77,432,841. This represents a 22.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were bought at an average price of $17.00 per share, with a total value of $19,975,000.00. Following the acquisition, 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.