Upstream Bio (NASDAQ:UPB) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Upstream Bio (NASDAQ:UPB) released its quarterly earnings data on Tuesday. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02), reports. The business had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.52 million. Upstream Bio had a negative return on equity of 48.40% and a negative net margin of 4,955.67%.

Upstream Bio Price Performance

Shares of NASDAQ UPB traded down $0.21 during midday trading on Tuesday, hitting $3.37. The company’s stock had a trading volume of 222,214 shares, compared to its average volume of 885,152. The firm has a market capitalization of $184.68 million, a price-to-earnings ratio of -1.16 and a beta of 1.60. The business’s fifty day simple moving average is $4.51 and its two-hundred day simple moving average is $8.66. Upstream Bio has a 1 year low of $2.68 and a 1 year high of $33.68.

Analyst Ratings Changes

A number of analysts have recently issued reports on UPB shares. Truist Financial lowered their price target on Upstream Bio to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of Upstream Bio in a report on Wednesday, September 2nd. Wall Street Zen lowered Upstream Bio from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Upstream Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Upstream Bio from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.67.

About Upstream Bio

Upstream Bio, Inc is a clinical-stage biotechnology company focused on developing therapies for inflammatory and immune-mediated diseases. The company’s research is centered on targeting pathways involved in type 2 inflammation, which contributes to conditions affecting the respiratory system and other tissues.

Its lead product candidate is verekitug, an investigational, long-acting monoclonal antibody designed to block thymic stromal lymphopoietin (TSLP), an epithelial cytokine that plays a role in initiating and maintaining allergic and inflammatory responses.