your badges 52W Range $5–$34 1% of range Analyst Rating BUY 13 analysts Price Target $31 +518% upside P/E -1.7 ROE -46.0% Net Profit Margin -4955.7%

UPB Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $5.04
Market Cap (MRQ) $276M
P/E (TTM) -1.7
EPS (TTM) $-2.89
Revenue (TTM) $3M
ROE (TTM) -46.0%
52W Range $5–$34

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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$3M
2023-12-31 → 2025-12-31
EPS$-2.66
2023-12-31 → 2025-12-31
Free Cash Flow$-133M
2024-12-31 → 2025-12-31
Net margin-4955.7%
2024-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend UPB 5Y avg Peer Median Verdict
P/E (TTM) -1.7 · · ·
P/S (TTM) 87.4 · 49.8 Overvalued
P/B (MRQ) 1.0 · 1.7 Undervalued
Price / FCF -2.0 · · ·
Price / Cash Flow -2.1 · · ·
Price / Tangible Book 0.8 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise -26.7%
Next Report Nov 03, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 12, 2026 $-0.73 $-0.77 5.0%
March 31, 2026 May 12, 2026 $-0.75 $-0.78 4.0%
Dec. 31, 2025 $-0.79 $-0.71 -11.2%
Sept. 30, 2025 $-0.63 $-0.79 20.2%
June 30, 2025 $-0.74 $-0.62 -19.6%
March 31, 2025 $-0.51 $-0.49 -4.1%
Dec. 31, 2024 $-1.59 $-0.57 -181.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 14
Metric Trend 202520242023
Revenue $3M$2M$2M
R&D Expense $137M$63M$32M
SG&A Expense $26M$17M$11M
Operating Expenses $163M$80M$42M
Operating Income $-160M$-78M$-40M
Interest Income $17M$12M$4M
Other Non-op $17M$15M$20M
Income Tax $0$0$0
Net Income $-143M$-63M$-21M
EPS (Basic) $-2.66$-5.58$-12.95
EPS (Diluted) $-2.66$-5.58$-12.95
Shares (Basic) 53,852,75213,682,3262,953,756
Shares (Diluted) 53,852,75213,682,3262,953,756
EBITDA $-160M$-78M·
Balance Sheet 22
Metric Trend 202520242023
Cash & Equivalents $102M$326M$26M
Short-term Investments $240M$145M$84M
Receivables $668.0K$613.0K$98.0K
Prepaid Expense $10M$8M$7M
Other Current Assets $727.0K··
Current Assets $352M$479M$117M
PP&E (Net) $559.0K$582.0K$159.0K
PP&E (Gross) $903.0K$738.0K$226.0K
Accum. Depreciation $344.0K$156.0K$67.0K
Goodwill ·$0·
Total Assets $354M$482M$117M
Accounts Payable $3M$4M$2M
Current Liabilities $13M$11M$7M
Capital Leases $549.0K$1M·
Total Liabilities $14M$12M$9M
Common Stock $54.0K$53.0K$3.0K
Paid-in Capital $673M$661M$5M
Retained Earnings $-334M$-191M$-128M
AOCI $530.0K$-25.0K$21.0K
Stockholders' Equity $340M$470M$-123M
Liabilities + Equity $354M$482M$117M
Shares Outstanding 54,237,75053,603,3982,992,479
Cash Flow 9
Metric Trend 202520242023
D&A $188.0K$89.0K$60.0K
Stock-based Comp $10M$6M$3M
Other Non-cash $-352.0K$-2M·
Operating Cash Flow $-133M$-59M$-38M
CapEx $165.0K$511.0K$144.0K
Investing Cash Flow $-93M$-59M$-83M
Financing Cash Flow $2M$419M$130M
Net Change in Cash $-224M$300M$9M
Free Cash Flow $-133M$-60M·
Profitability 5
Metric Trend 202520242023
Operating Margin -5618.8%-3281.2%·
Net Margin -5026.0%-2650.0%·
EBITDA Margin -5612.2%-3277.4%·
ROA -34.3%-21.0%·
ROE -38.3%-40.6%·
Liquidity & Solvency 2
Metric Trend 202520242023
Current Ratio 26.244.6·
Quick Ratio 25.443.9·
Efficiency 2
Metric Trend 202520242023
Asset Turnover 0.00.0·
Receivables Turnover 4.56.7·
Per Share 5
Metric Trend 202520242023
Book Value / Share $6.26$8.77·
Revenue / Share $0.05$0.17·
Cash Flow / Share $-2.47$-4.32·
Cash / Share $1.87$6.08·
EPS (TTM) $-2.66$-5.58·
Growth Rates 1
Metric Trend 202520242023
Revenue YoY 20.4%-0.42%·
Valuation (TTM) 10
Metric Trend 202520242023
Revenue TTM $3M$2M·
Net Income TTM $-143M$-63M·
Market Cap $1.47B$881M·
P/E -10.2-2.9·
P/S 516.0371.8·
P/B 4.31.9·
P / Tangible Book 4.31.9·
P / Cash Flow -11.0-14.9·
P / FCF -11.0-14.8·
Earnings Yield -9.8%-33.9%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-31
Revenue $3M $2M $2M
Operating Margin % -5618.8% -3281.2% ·
Net Income $-143M $-63M $-21M
Diluted EPS $-2.66 $-5.58 $-12.95

Institutional owners (13F) 154 filers · $412.0M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 154
Value held $412.0M
New positions 37
Exited positions 26
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
37 (-14 vs prior Q) 26 (-10 vs prior Q) 66 (+19 vs prior Q) 30 (-6 vs prior Q) +5.6M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $64,846,119 2,388,439 15.74% Shares
FMR LLC $56,487,247 8,162,897 13.71% Shares
ORBIMED ADVISORS LLC $39,399,636 5,693,589 9.56% Shares
NORGES BANK $26,078,843 3,768,619 6.33% Shares
BlackRock, Inc. $25,973,237 3,753,358 6.30% Shares
Decheng Capital LLC $18,856,087 2,724,868 4.58% Shares
ENAVATE SCIENCES GP, LLC $17,021,145 2,459,703 4.13% Shares
VANGUARD CAPITAL MANAGEMENT LLC $12,986,999 1,876,734 3.15% Shares
MILLENNIUM MANAGEMENT LLC $7,914,923 1,143,775 1.92% Shares
D. E. Shaw & Co., Inc. $7,169,425 1,036,044 1.74% Shares
JPMORGAN CHASE & CO $7,013,464 1,012,044 1.70% Shares
Qube Research & Technologies Ltd $6,771,220 978,500 1.64% Shares
Parkman Healthcare Partners LLC $6,471,909 935,247 1.57% Shares
GEODE CAPITAL MANAGEMENT, LLC $6,445,888 931,261 1.56% Shares
SEB Asset Management AB $6,079,022 878,473 1.48% Shares
Woodline Partners LP $5,753,849 831,481 1.40% Shares
STATE STREET CORP $5,302,955 766,323 1.29% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $4,931,656 712,667 1.20% Shares
Y-Intercept (Hong Kong) Ltd $4,799,401 693,555 1.16% Shares
Bain Capital Life Sciences Investors, LLC $4,158,567 600,949 1.01% Shares
AQR CAPITAL MANAGEMENT LLC $3,770,493 544,869 0.92% Shares
MORGAN STANLEY $3,630,453 524,632 0.88% Shares
BNP PARIBAS FINANCIAL MARKETS $3,539,898 511,546 0.86% Shares
Walleye Capital LLC $3,449,551 498,490 0.84% Shares
Trexquant Investment LP $3,227,696 466,430 0.78% Shares
Point72 Asset Management, L.P. $3,134,836 453,011 0.76% Shares
BANK OF AMERICA CORP /DE/ $2,710,993 391,762 0.66% Shares
DIMENSIONAL FUND ADVISORS LP $2,640,811 381,613 0.64% Shares
Altshuler Shaham Ltd $2,630,022 380,061 0.64% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $2,475,672 357,756 0.60% Shares
SAMSARA BIOCAPITAL, LLC $2,447,722 353,717 0.59% Shares
Propel Bio Management, LLC $2,424,692 350,389 0.59% Shares
WELLINGTON MANAGEMENT GROUP LLP $2,369,083 342,353 0.57% Shares
NORTHERN TRUST CORP $2,057,634 297,346 0.50% Shares
Squarepoint Ops LLC $2,013,056 290,904 0.49% Shares
Voleon Capital Management LP $1,973,819 285,234 0.48% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $1,816,196 262,456 0.44% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $1,751,397 253,092 0.43% Shares
GOLDMAN SACHS GROUP INC $1,708,666 246,917 0.41% Shares
XTX Topco Ltd $1,677,034 242,346 0.41% Shares
DEUTSCHE BANK AG\ $1,670,814 241,447 0.41% Shares
VANGUARD FIDUCIARY TRUST CO $1,658,143 239,616 0.40% Shares
UBS Group AG $1,624,221 234,714 0.39% Shares
Schonfeld Strategic Advisors LLC $1,562,258 225,760 0.38% Shares
Jump Financial, LLC $1,544,703 223,223 0.37% Shares
SPHERA FUNDS MANAGEMENT LTD. $1,520,324 219,700 0.37% Shares
Boxer Capital Management, LLC $1,038,000 150,000 0.25% Shares
RENAISSANCE TECHNOLOGIES LLC $908,596 131,300 0.22% Shares
EntryPoint Capital, LLC $895,766 129,446 0.22% Shares
ALGERT GLOBAL LLC $820,920 118,630 0.20% Shares

Show all 154 institutional owners →

Activists & 5%+ owners 2 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
AI Upstream LLC, Access Industries Holdings LLC, AI Biotechnology LLC, Access Industries Management, LLC, Len Blavatnik Oct. 22, 2024 · Initial filing Passive investment SEC
OrbiMed Advisors LLC, OrbiMed Capital GP VIII LLC, OrbiMed Advisors Israel II Limited, OrbiMed Israel GP II, L.P. Oct. 17, 2024 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 12 insiders · 5 officers · 7 directors

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Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Everett Rand Sutherland Chief Executive Officer Sept. 16, 2026 S 68,717 0 3 $-43,726
Michael Gray CFO and COO Sept. 16, 2026 S 27,942 0 3 $-17,801
Allison Ambrose General Counsel Sept. 16, 2026 S 15,563 0 3 $-9,986
Aaron Deykin Chief Medical Officer Sept. 16, 2026 S 32,302 0 3 $-18,679
Adam Houghton Chief Business Officer Sept. 16, 2026 S 22,901 0 3 $-14,607
Marcella K. Ruddy Director June 9, 2026 A · 0 0 $0
Harold Edward Fleming Director June 9, 2026 A · 0 0 $0
CHIMOVITS EREZ Director June 9, 2026 A 4,554,873 0 0 $0
Liam Ratcliffe Director June 9, 2026 A · 0 0 $0
Daniella Beckman Director June 9, 2026 A · 0 0 $0
Ronald C Renaud JR Director June 9, 2026 A · 0 0 $0
Wellington Biomedical Innovation Master Investors (Cayman) II L.P. 10% owner Oct. 15, 2024 C 894,733 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 21 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
BBC · ETFis Series Trust I 0.69% 50,952 NS July 31, 2026 N-PORT
FFSM · FIDELITY COVINGTON TRUST 0.04% 93,712 NS July 31, 2026 N-PORT
VTWV · VANGUARD SCOTTSDALE FUNDS 0.02% 31,318 SH Aug. 19, 2026 Daily
IBBQ · Invesco Exchange-Traded Fund Trust … 0.02% 3,884 SH Oct. 2, 2026 Daily
IBB · iShares Trust 0.02% 273,014 SH Sept. 11, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.01% 202,528 SH Aug. 19, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.01% 51,873 SH Oct. 2, 2026 Daily
RSSL · Global X Funds 0.01% 16,828 NS July 31, 2026 N-PORT
IWM · iShares Trust 0.01% 904,196 SH Sept. 11, 2026 Daily
DFAS · Dimensional ETF Trust 0.01% 150,504 NS July 31, 2026 N-PORT
FHLC · FIDELITY COVINGTON TRUST 0.00% 11,496 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.00% 10,145 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.00% 2,366 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 49,983 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.00% 9,669 SH Sept. 3, 2026 Daily
DFAC · Dimensional ETF Trust 0.00% 6,279 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 386,877 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 1,443,025 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 2,529 SH Aug. 19, 2026 Daily
VHT · VANGUARD WORLD FUND 0.00% 72,742 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 336,197 SH Sept. 11, 2026 Daily

UPB Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 13 analysts BUY
Median target $25.00 +396.0%
2 15.4% Strong Buy
8 61.5% Buy
3 23.1% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

7 analysts · 2026-10-01

Mean target $31.14 +517.9%

← Below all targets Current price $5.04
Low$9.00 Mean$31.14 High$75.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
UPB $1.47B -10.2 20.4% -5026.0% -38.3% ·
VNDA $521M -2.4 8.7% -102.0% -54.2% ·
RCKT · · · · · ·
IKT $270M -4.2 111.0% -1299.0% -38.2% ·
FATE $113M -0.9 -51.2% -2051.1% -58.2% ·
IPSC $87M -7.1 1556.8% -8.8% -5.2% ·
ZSQR · · · · · ·
SABS · · · · · ·
TLSI · · · · · ·
IMRX · -5.2 · · -45.3% ·

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26

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Source: SEC 10-Q filed Aug 11, 2026