Upstream Bio (NASDAQ:UPB) Shares Gap Down – Time to Sell?

Upstream Bio, Inc. (NASDAQ:UPB)’s share price 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.

Analyst Ratings Changes

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

Upstream Bio Stock Up 3.2 %

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

Upstream Bio (NASDAQ:UPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($6.96) EPS for the quarter, missing the consensus estimate of ($0.58) by ($6.38). The company had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $0.83 million. On average, analysts expect that Upstream Bio, Inc. will post -4.3 EPS for the current year.

Insider Buying and Selling

In related news, Director Erez Chimovits bought 825,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was acquired at an average cost of $17.00 per share, with a total value of $14,025,000.00. Following the purchase, the director now directly owns 4,554,873 shares of the company’s stock, valued at $77,432,841. The trade was a 22.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ai Upstream Llc purchased 1,175,000 shares of Upstream Bio stock in a transaction dated 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 acquisition, the insider now owns 1,175,000 shares in the company, valued at approximately $19,975,000. This trade represents 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.