Upstream Bio (NASDAQ:UPB) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Upstream Bio (NASDAQ:UPB) issued its quarterly earnings data on Wednesday. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.15, Zacks reports. The business had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.65 million. Upstream Bio had a negative return on equity of 35.90% and a negative net margin of 3,836.58%.

Upstream Bio Stock Performance

Upstream Bio stock traded down $0.31 during mid-day trading on Thursday, hitting $23.66. The company’s stock had a trading volume of 289,373 shares, compared to its average volume of 378,973. The company has a 50 day moving average of $19.80 and a 200-day moving average of $14.61. The stock has a market cap of $1.28 billion and a PE ratio of -2.88. Upstream Bio has a one year low of $5.14 and a one year high of $29.30.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on UPB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Upstream Bio in a report on Wednesday, October 8th. Truist Financial started coverage on Upstream Bio in a report on Tuesday, October 14th. They set a “buy” rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.00.

Hedge Funds Weigh In On Upstream Bio

Several hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its position in Upstream Bio by 6.4% in the 2nd quarter. Invesco Ltd. now owns 16,300 shares of the company’s stock valued at $179,000 after acquiring an additional 985 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Upstream Bio by 8.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,469 shares of the company’s stock worth $181,000 after buying an additional 1,275 shares in the last quarter. Legal & General Group Plc grew its position in shares of Upstream Bio by 83.0% during the 2nd quarter. Legal & General Group Plc now owns 3,174 shares of the company’s stock worth $35,000 after buying an additional 1,440 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Upstream Bio by 229.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,097 shares of the company’s stock worth $34,000 after buying an additional 2,158 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Upstream Bio by 71.2% during the 2nd 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 in the last quarter.

Upstream Bio Company Profile

Upstream Bio, Inc, a clinical-stage biotechnology company, develops treatments for inflammatory diseases that focuses on severe respiratory disorders. It develops verekitug, a monoclonal antibody that targets and inhibits the thymic stromal lymphopoietin receptor. The company also develops therapies to treat severe asthma, chronic rhinosinusitis with nasal polyps, and chronic obstructive pulmonary disease.