Upstream Bio, Inc.’s Quiet Period To Expire on November 20th (NASDAQ:UPB)

Upstream Bio’s (NASDAQ:UPB) quiet period is set to end on Wednesday, November 20th. Upstream Bio had issued 15,000,000 shares in its initial 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 Upstream Bio’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. 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 analysts recently issued reports on UPB shares. JPMorgan Chase & Co. started coverage on shares of Upstream Bio in a research report on Tuesday, November 5th. They set an “overweight” rating and a $38.00 target price for the company. Piper Sandler started coverage on Upstream Bio in a research report on Tuesday, November 5th. They set an “overweight” rating and a $75.00 target price on the stock. TD Cowen initiated coverage on Upstream Bio in a research report on Tuesday, November 5th. They issued a “buy” rating for the company. Finally, William Blair started coverage on shares of Upstream Bio in a report on Tuesday, November 5th. They issued an “outperform” rating for the company.

Upstream Bio Price Performance

NASDAQ UPB opened at $25.46 on Friday. Upstream Bio has a one year low of $20.74 and a one year high of $29.46.

Upstream Bio (NASDAQ:UPB) last released 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 business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.83 million. As a group, analysts expect that Upstream Bio will post -4.34 EPS for the current year.

Insider Transactions at Upstream Bio

In other Upstream Bio news, major shareholder Ai Upstream Llc purchased 1,175,000 shares of Upstream Bio 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 $19,975,000.00. Following the completion of the acquisition, the insider now owns 1,175,000 shares in the company, valued at $19,975,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Erez Chimovits purchased 825,000 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 $14,025,000.00. Following the purchase, the director now directly owns 4,554,873 shares in the company, valued at $77,432,841. This trade represents a 22.12 % 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.