Sutro Biopharma (NASDAQ:STRO) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Sutro Biopharma (NASDAQ:STRO) posted its earnings results on Thursday. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.28), FiscalAI reports. The firm had revenue of $9.69 million during the quarter. Sutro Biopharma had a negative net margin of 201.32% and a negative return on equity of 852.70%.

Sutro Biopharma Stock Performance

NASDAQ:STRO traded down $0.04 during trading on Thursday, reaching $0.94. The company’s stock had a trading volume of 513,786 shares, compared to its average volume of 1,666,333. The firm has a market cap of $79.87 million, a price-to-earnings ratio of -0.37 and a beta of 1.75. The firm has a 50 day moving average of $0.95 and a 200-day moving average of $0.88. Sutro Biopharma has a 12 month low of $0.52 and a 12 month high of $4.60.

Insider Transactions at Sutro Biopharma

In other Sutro Biopharma news, Director Connie Matsui acquired 50,000 shares of Sutro Biopharma stock in a transaction on Wednesday, October 15th. The stock was purchased at an average price of $0.80 per share, for a total transaction of $40,000.00. Following the purchase, the director directly owned 50,000 shares of the company’s stock, valued at $40,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 111,754 shares of company stock valued at $89,601. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of STRO. AQR Capital Management LLC grew its stake in Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after purchasing an additional 1,206,330 shares during the period. Jane Street Group LLC bought a new position in shares of Sutro Biopharma during the 2nd quarter worth $492,000. Marshall Wace LLP bought a new position in shares of Sutro Biopharma during the 2nd quarter worth $166,000. Strs Ohio purchased a new stake in Sutro Biopharma during the 1st quarter worth about $99,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Sutro Biopharma during the 2nd quarter worth about $82,000. Institutional investors own 96.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sutro Biopharma in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.47.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.