Sutro Biopharma (NASDAQ:STRO) Announces Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Sutro Biopharma (NASDAQ:STRO) issued its earnings results on Wednesday. The company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.14), FiscalAI reports. The company had revenue of $9.84 million during the quarter, compared to analysts’ expectations of $11.96 million.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO traded down $5.89 on Wednesday, hitting $19.15. The stock had a trading volume of 286,523 shares, compared to its average volume of 249,892. Sutro Biopharma has a twelve month low of $7.15 and a twelve month high of $43.85. The firm’s 50 day moving average price is $27.24 and its 200-day moving average price is $25.91. The company has a market capitalization of $317.32 million, a price-to-earnings ratio of -1.73 and a beta of 1.55.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STRO. Truist Financial began coverage on shares of Sutro Biopharma in a research note on Thursday, June 11th. They issued a “buy” rating and a $50.00 price objective for the company. Lifesci Capital upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research report on Friday, May 1st. Barclays began coverage on shares of Sutro Biopharma in a research note on Thursday, May 28th. They issued an “overweight” rating and a $56.00 target price on the stock. Mizuho set a $50.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Leerink Partners set a $43.00 price objective on Sutro Biopharma and gave the company an “outperform” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sutro Biopharma presently has an average rating of “Moderate Buy” and an average price target of $52.00.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors have recently added to or reduced their stakes in STRO. State of Tennessee Department of Treasury acquired a new position in Sutro Biopharma in the fourth quarter valued at about $86,000. Jane Street Group LLC acquired a new stake in shares of Sutro Biopharma during the fourth quarter worth approximately $265,000. Bridgeway Capital Management LLC raised its stake in shares of Sutro Biopharma by 232.6% in 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. ADAR1 Capital Management LLC bought a new position in shares of Sutro Biopharma in the fourth quarter valued at approximately $776,000. Finally, Invesco Ltd. boosted its holdings in shares of Sutro Biopharma by 137.8% in the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after acquiring an additional 53,390 shares in the last quarter. 96.99% of the stock is owned by institutional investors.

About Sutro Biopharma

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.