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

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

Upstream Bio Trading Down 5.8%

Shares of Upstream Bio stock traded down $0.21 during mid-day trading on Tuesday, hitting $3.37. 222,214 shares of the stock were exchanged, compared to its average volume of 885,152. Upstream Bio has a twelve month low of $2.68 and a twelve month high of $33.68. The stock has a market capitalization of $184.68 million, a price-to-earnings ratio of -1.16 and a beta of 1.60. The company has a 50-day simple moving average of $4.51 and a 200 day simple moving average of $8.66.

Analyst Upgrades and Downgrades

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

Upstream Bio Company Profile

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.