Sutro Biopharma (NASDAQ:STRO) Posts Earnings Results, Misses Estimates By $0.28 EPS

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

Sutro Biopharma Stock Performance

STRO stock traded down $0.14 during trading on Friday, hitting $0.80. The stock had a trading volume of 1,212,642 shares, compared to its average volume of 1,178,076. The stock has a market cap of $67.99 million, a price-to-earnings ratio of -0.32 and a beta of 1.75. The company’s 50 day moving average price is $0.95 and its two-hundred day moving average price is $0.88. Sutro Biopharma has a 1-year low of $0.52 and a 1-year high of $4.60.

Insider Activity at Sutro Biopharma

In other news, Director Connie Matsui acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was acquired at an average price of $0.80 per share, with a total value of $40,000.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at approximately $40,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought 111,754 shares of company stock worth $89,601 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Sutro Biopharma

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Sutro Biopharma by 1,052.8% during the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after purchasing an additional 1,206,330 shares during the period. Jane Street Group LLC purchased a new stake in Sutro Biopharma in the second quarter valued at approximately $492,000. Shay Capital LLC boosted its holdings in shares of Sutro Biopharma by 26.4% in the 2nd quarter. Shay Capital LLC now owns 259,889 shares of the company’s stock valued at $186,000 after purchasing an additional 54,269 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Sutro Biopharma during the 2nd quarter worth $166,000. Finally, Strs Ohio acquired a new stake in shares of Sutro Biopharma during the 1st quarter worth $99,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Sutro Biopharma

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.