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

Upstream Bio (NASDAQ:UPB) announced its earnings results on Tuesday. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02), reports. Upstream Bio had a negative net margin of 5,712.33% and a negative return on equity of 53.77%. The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.55 million.

Upstream Bio Stock Down 5.3%

Shares of Upstream Bio stock opened at $3.20 on Thursday. The firm has a market cap of $175.26 million, a PE ratio of -1.06 and a beta of 1.60. Upstream Bio has a 52 week low of $2.68 and a 52 week high of $33.68. The business’s fifty day simple moving average is $4.38 and its 200-day simple moving average is $8.38.

Wall Street Analyst Weigh In

Several research firms recently commented on UPB. Truist Financial cut their price target on Upstream Bio to $25.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Wall Street Zen downgraded Upstream Bio from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. HC Wainwright reduced their price target on Upstream Bio to $18.00 and set a “buy” rating on the stock in a report on Wednesday. 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Upstream Bio has a consensus rating of “Hold” and an average price target of $26.67.

About Upstream Bio

Upstream Bio is a clinical-stage biopharmaceutical company developing treatments for inflammatory diseases. The company is based in Waltham, Massachusetts, and its research focuses on pathways involved in immune and inflammatory responses. Its lead product candidate, verekitug (UPB-101), is an antibody designed to block the receptor for thymic stromal lymphopoietin, a protein associated with inflammation. Upstream Bio is developing verekitug for conditions including asthma and chronic rhinosinusitis with nasal polyps.