JPMorgan Chase & Co. Initiates Coverage on Upstream Bio (NASDAQ:UPB)

Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of Upstream Bio (NASDAQ:UPB) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $38.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 43.02% from the stock’s current price.

UPB has been the subject of several other reports. William Blair initiated coverage on Upstream Bio in a report on Tuesday. They set an “outperform” rating for the company. TD Cowen began coverage on shares of Upstream Bio in a research note on Tuesday. They set a “buy” rating for the company.

Upstream Bio Stock Down 3.0 %

UPB stock opened at $26.57 on Tuesday. Upstream Bio has a twelve month low of $20.74 and a twelve month high of $29.46.

Insider Transactions at Upstream Bio

In other Upstream Bio news, major shareholder Ai Upstream Llc acquired 1,175,000 shares of Upstream Bio stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average cost 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 of the company’s stock, valued at $19,975,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Ai Upstream Llc bought 1,175,000 shares of the firm’s stock in a transaction on 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 purchase, the insider now owns 1,175,000 shares in the company, valued at approximately $19,975,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erez Chimovits purchased 825,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $14,025,000.00. Following the completion of the acquisition, the director now directly owns 4,554,873 shares in the company, valued at approximately $77,432,841. This trade represents a 0.00 % 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.