Upstream Bio (NASDAQ:UPB) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Upstream Bio (NASDAQ:UPB) announced its quarterly earnings data on Tuesday. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.01, FiscalAI reports. The firm had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.56 million. Upstream Bio had a negative return on equity of 45.92% and a negative net margin of 4,955.67%.

Upstream Bio Stock Performance

NASDAQ:UPB opened at $6.91 on Thursday. The firm’s fifty day moving average is $6.82 and its 200-day moving average is $10.08. Upstream Bio has a 52 week low of $5.85 and a 52 week high of $33.68. The firm has a market cap of $376.04 million, a P/E ratio of -2.38 and a beta of 1.26.

Analyst Ratings Changes

Several research analysts have recently weighed in on UPB shares. JPMorgan Chase & Co. cut Upstream Bio from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $8.00 in a research report on Friday, June 12th. Truist Financial reduced their target price on shares of Upstream Bio to $25.00 and set a “buy” rating for the company in a report on Tuesday. HC Wainwright started coverage on shares of Upstream Bio in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $36.00 price target on the stock. Mizuho cut their price objective on Upstream Bio from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Upstream Bio in a research note on Monday, August 3rd. Four equities 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 company. Based on data from MarketBeat.com, Upstream Bio presently has an average rating of “Hold” and an average price target of $29.50.

Institutional Investors Weigh In On Upstream Bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of Upstream Bio by 110.8% in the third quarter. BNP Paribas Financial Markets now owns 6,527 shares of the company’s stock worth $123,000 after buying an additional 3,430 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Upstream Bio by 71.2% in the second quarter. Bank of America Corp DE now owns 18,031 shares of the company’s stock worth $198,000 after buying an additional 7,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Upstream Bio by 85.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,084 shares of the company’s stock valued at $210,000 after acquiring an additional 8,788 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Upstream Bio in the second quarter valued at $145,000. Finally, Invesco Ltd. grew its holdings in shares of Upstream Bio by 6.4% during the 2nd quarter. Invesco Ltd. now owns 16,300 shares of the company’s stock worth $179,000 after acquiring an additional 985 shares during the period.

About Upstream Bio

Upstream Bio, Inc is a clinical-stage biotechnology company focused on the development of next-generation prophylactic vaccines and immuno-oncology therapies. Leveraging a proprietary viral vector platform, the company aims to deliver optimized antigen payloads that stimulate robust and durable immune responses against both infectious diseases and cancer targets. Upstream Bio’s approach emphasizes safety, manufacturability and potential for rapid scale-up to address emerging public health challenges.

The company’s research and development pipeline includes multiple viral vector-based candidates in early clinical and preclinical stages.