TD Cowen Initiates Coverage on Upstream Bio (NASDAQ:UPB)

Equities research analysts at TD Cowen began coverage on shares of Upstream Bio (NASDAQ:UPB) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating on the stock.

Upstream Bio Stock Performance

Shares of UPB opened at $26.57 on Tuesday. Upstream Bio has a 12-month low of $20.74 and a 12-month high of $29.46.

Insider Activity

In other Upstream Bio news, major shareholder Ai Upstream Llc purchased 1,175,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average cost of $17.00 per share, with a total value of $19,975,000.00. Following the completion of the purchase, the insider now directly owns 1,175,000 shares in the company, valued at approximately $19,975,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 stock was acquired at an average cost of $17.00 per share, with a total value of $19,975,000.00. Following the completion of the purchase, the insider now directly owns 1,175,000 shares in the company, valued at approximately $19,975,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erez Chimovits bought 825,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $77,432,841. This trade represents a 0.00 % increase in their position. 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.