OrbiMed Advisors LLC, a prominent shareholder in Upstream Bio, Inc. (NASDAQ:UPB), recently acquired a significant amount of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transactions, dated October 15, 2024, involved the purchase of 825,000 shares at a price of $17 per share, totaling $14,025,000.
OrbiMed’s acquisition included two separate transactions: one for 165,000 shares and another for 660,000 shares. These purchases have increased OrbiMed’s stake in Upstream Bio, reflecting the firm’s continued interest in the pharmaceutical company.
The filing also detailed several other transactions involving the conversion of preferred stock into common stock, although these did not involve any direct purchases or sales. The conversions included Series A and Series B redeemable convertible preferred stock, which were automatically converted into common stock as part of the company’s initial public offering process.
OrbiMed Advisors LLC, along with its affiliated entities, maintains a significant role in the governance of Upstream Bio, with representatives serving on the board of directors.
InvestingPro Insights
Following OrbiMed Advisors LLC’s substantial investment in Upstream Bio, Inc. (NASDAQ:UPB), it’s worth examining some key financial metrics and insights provided by InvestingPro.
As of the latest data, Upstream Bio boasts a market capitalization of $1.18 billion, reflecting investor confidence in the company’s potential. The stock is currently trading near its 52-week high, with a price that is 97.99% of its peak, indicating strong recent performance.
Despite the positive stock momentum, InvestingPro Tips reveal that Upstream Bio is not currently profitable over the last twelve months. This is further evidenced by the company’s negative P/E ratio of -22.43 and a negative price-to-book ratio of -8.39. These figures suggest that investors are betting on the company’s future prospects rather than its current financial performance.
On a positive note, InvestingPro Tips highlight that Upstream Bio holds more cash than debt on its balance sheet, and its liquid assets exceed short-term obligations. This strong liquidity position could provide the company with financial flexibility as it continues to develop its pharmaceutical pipeline.
It’s worth noting that Upstream Bio does not pay a dividend to shareholders, which is common for early-stage biopharmaceutical companies that typically reinvest profits into research and development.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 5 more InvestingPro Tips available for Upstream Bio, which could provide valuable context for understanding the company’s financial health and growth potential.
OrbiMed Advisors LLC, a prominent shareholder in Upstream Bio, Inc. (NASDAQ:UPB), recently acquired a significant amount of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transactions, dated October 15, 2024, involved the purchase of 825,000 shares at a price of $17 per share, totaling $14,025,000.
OrbiMed’s acquisition included two separate transactions: one for 165,000 shares and another for 660,000 shares. These purchases have increased OrbiMed’s stake in Upstream Bio, reflecting the firm’s continued interest in the pharmaceutical company.
The filing also detailed several other transactions involving the conversion of preferred stock into common stock, although these did not involve any direct purchases or sales. The conversions included Series A and Series B redeemable convertible preferred stock, which were automatically converted into common stock as part of the company’s initial public offering process.
OrbiMed Advisors LLC, along with its affiliated entities, maintains a significant role in the governance of Upstream Bio, with representatives serving on the board of directors.
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