Upstream Bio (NASDAQ:UPB) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Upstream Bio (NASDAQ:UPB) announced its earnings results on Tuesday. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.03), reports. Upstream Bio had a negative net margin of 4,955.67% and a negative return on equity of 48.40%. The firm had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.48 million.

Upstream Bio Stock Down 5.6%

Shares of UPB stock opened at $3.38 on Wednesday. Upstream Bio has a 52 week low of $2.68 and a 52 week high of $33.68. The firm’s 50-day simple moving average is $4.44 and its two-hundred day simple moving average is $8.52.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on UPB shares. 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. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of Upstream Bio in a research note on Wednesday, September 2nd. Wall Street Zen lowered Upstream Bio from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Truist Financial decreased their price target on Upstream Bio to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted 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. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Upstream Bio presently has an average rating of “Hold” and a consensus 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.