Sutro Biopharma (NASDAQ:STRO) Announces Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Sutro Biopharma (NASDAQ:STRO) announced its quarterly earnings results on Thursday. The company reported ($2.94) earnings per share for the quarter, missing the consensus estimate of ($2.74) by ($0.20), Zacks reports. The company had revenue of $14.52 million for the quarter, compared to the consensus estimate of $8.89 million.

Sutro Biopharma Stock Performance

STRO stock traded up $0.55 during mid-day trading on Friday, reaching $38.97. 261,199 shares of the stock traded hands, compared to its average volume of 236,505. Sutro Biopharma has a one year low of $6.74 and a one year high of $43.85. The stock has a market capitalization of $645.73 million, a PE ratio of -1.49 and a beta of 1.63. The business has a 50-day moving average price of $29.19 and a two-hundred day moving average price of $18.28.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its position in Sutro Biopharma by 232.6% during the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after acquiring an additional 30,000 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Sutro Biopharma by 137.8% in the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after purchasing an additional 53,390 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Sutro Biopharma by 169.9% in the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after purchasing an additional 66,372 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Sutro Biopharma in the second quarter worth about $82,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of Sutro Biopharma in the fourth quarter worth about $86,000. Institutional investors own 96.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on STRO. Mizuho set a $50.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a research report on Friday, April 17th. Leerink Partners set a $43.00 price objective on shares of Sutro Biopharma and gave the company an “outperform” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.78.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.