Upstream Bio (NASDAQ:UPB) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Upstream Bio beat quarterly earnings expectations: The company reported an adjusted loss of $0.73 per share versus analysts’ estimate of a $0.78 loss, while revenue reached $0.77 million compared with expectations of $0.43 million.
• The company remains financially challenged: Upstream Bio posted a negative 43.82% return on equity and a negative net margin of 4,718.96%; shares opened at $7.38, near the lower end of their 52-week range.
• Analyst sentiment is mixed: Ratings range from buy to sell, resulting in a consensus “Hold” rating, although the average price target of $33.17 is substantially above the current share price.

Upstream Bio (NASDAQ:UPB - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.78) by $0.05, FiscalAI reports. The firm had revenue of $0.77 million for the quarter, compared to analysts' expectations of $0.43 million. Upstream Bio had a negative return on equity of 43.82% and a negative net margin of 4,718.96%.

Upstream Bio Price Performance

Shares of UPB opened at $7.38 on Tuesday. Upstream Bio has a fifty-two week low of $5.85 and a fifty-two week high of $33.68. The company's 50-day moving average is $6.83 and its 200-day moving average is $10.43. The firm has a market capitalization of $401.35 million, a PE ratio of -2.58 and a beta of 1.26.

Hedge Funds Weigh In On Upstream Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in Upstream Bio by 229.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,097 shares of the company's stock valued at $34,000 after purchasing an additional 2,158 shares during the period. Legal & General Group Plc boosted its stake in shares of Upstream Bio by 83.0% in the 2nd quarter. Legal & General Group Plc now owns 3,174 shares of the company's stock valued at $35,000 after purchasing an additional 1,440 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Upstream Bio during the fourth quarter worth $45,000. Russell Investments Group Ltd. increased its position in shares of Upstream Bio by 1,963.9% during the third quarter. Russell Investments Group Ltd. now owns 3,034 shares of the company's stock worth $57,000 after buying an additional 2,887 shares during the period. Finally, AQR Capital Management LLC bought a new position in Upstream Bio during the first quarter worth $115,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho lowered their target price on shares of Upstream Bio from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, May 14th. HC Wainwright began coverage on shares of Upstream Bio in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $36.00 price target on the stock. JPMorgan Chase & Co. cut shares of Upstream Bio from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $35.00 to $8.00 in a research note on Friday, June 12th. Finally, Weiss Ratings reiterated 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $33.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source