Upstream Bio (NASDAQ:UPB) Hits New 12-Month Low - Is It Time to Sell?

Upstream Bio, Inc. (NASDAQ:UPB) recently reached a new 12-month low, trading at $14.69. This was a significant drop from its previous closing price of $16.19. In total, 50,433 shares were traded on this particular day.

Changes in Analyst Ratings

Several equities analysts have recently shared their evaluations of Upstream Bio shares. On November 5th, William Blair initiated coverage with an "outperform" rating. Similarly, Piper Sandler began coverage on the same day, giving the stock an "overweight" rating alongside a price target of $75.00. TD Cowen also started coverage on November 5th with a "buy" rating. Additionally, JPMorgan Chase & Co. initiated coverage and designated an "overweight" rating, providing a price target of $38.00 for the stock.

Upstream Bio's Recent Performance

The company has a fifty-day moving average set at $20.82. For its last quarterly earnings report, released on November 7th, Upstream Bio reported earnings per share (EPS) of ($6.96), which fell short of the consensus estimate of ($0.58) by a substantial margin of ($6.38). The company's revenue for the quarter was $0.61 million, less than analysts' expectations of $0.83 million. For the current year, analysts predict that Upstream Bio will report an average EPS of -4.3.

Insider Transactions at Upstream Bio

In addition to market activity, insider trading has also been noteworthy. On October 15th, Director Erez Chimovits purchased 825,000 shares at an average price of $17.00, totaling approximately $14,025,000. After this purchase, Chimovits owns about 4,554,873 shares of Upstream Bio valued at around $77,432,841, marking a 22.12% increase in his holdings. Furthermore, major shareholder Ai Upstream LLC acquired 1,175,000 shares on the same date for a total of $19,975,000, reflecting a significant addition to their stake.

About Upstream Bio

Upstream Bio, Inc. is a clinical-stage biotechnology company focused on developing innovative treatments for inflammatory diseases specifically targeting severe respiratory disorders. One of its major projects includes the monoclonal antibody, verekitug, which aims to inhibit the thymic stromal lymphopoietin receptor. Upstream Bio is also working on therapies for severe asthma, chronic rhinosinusitis with nasal polyps, and chronic obstructive pulmonary disease.

Should You Invest in Upstream Bio Now?

Considerations around investing in Upstream Bio should be made cautiously. Although the stock currently holds a "Buy" rating from analysts, it may be worth exploring other stocks with better prospects as identified by top-rated analysts. Make sure to analyze the current market conditions and assess whether this stock aligns with your investment strategy.

Upstream, Bio, Stock