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

Upstream Bio (NASDAQ:UPB) announced its quarterly earnings results on Tuesday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.02), reports. The company had revenue of $0.40 million for the quarter, compared to the consensus estimate 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 Stock Performance

Shares of NASDAQ:UPB traded down $0.29 during midday trading on Tuesday, hitting $3.29. 262,590 shares of the stock were exchanged, compared to its average volume of 885,491. The business’s 50-day moving average price is $4.51 and its 200 day moving average price is $8.66. Upstream Bio has a 12 month low of $2.68 and a 12 month high of $33.68. The stock has a market capitalization of $179.92 million, a price-to-earnings ratio of -1.14 and a beta of 1.60.

Wall Street Analysts Forecast Growth

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