Upstream Bio (NASDAQ:UPB) Announces Earnings Results

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

Upstream Bio Trading Down 1.3%

Shares of UPB stock traded down $0.31 during trading hours on Thursday, reaching $23.66. 289,253 shares of the company’s stock were exchanged, compared to its average volume of 378,969. The stock’s fifty day moving average price is $19.80 and its two-hundred day moving average price is $14.61. The stock has a market cap of $1.28 billion and a PE ratio of -2.88. Upstream Bio has a 1 year low of $5.14 and a 1 year high of $29.30.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of Upstream Bio during the 1st quarter worth $115,000. Woodline Partners LP grew its stake in shares of Upstream Bio by 5.8% in the 1st quarter. Woodline Partners LP now owns 557,063 shares of the company’s stock valued at $3,409,000 after purchasing an additional 30,552 shares during the last quarter. Creative Planning purchased a new stake in shares of Upstream Bio in the second quarter valued at approximately $154,000. JPMorgan Chase & Co. raised its holdings in Upstream Bio by 8.4% during the second quarter. JPMorgan Chase & Co. now owns 16,469 shares of the company’s stock worth $181,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Upstream Bio by 83.0% in the second quarter. Legal & General Group Plc now owns 3,174 shares of the company’s stock worth $35,000 after acquiring an additional 1,440 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on UPB shares. Truist Financial began coverage on shares of Upstream Bio in a research report on Tuesday, October 14th. They set a “buy” rating and a $47.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Upstream Bio in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.00.

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.