Sutro Biopharma (NASDAQ:STRO) Posts Quarterly Earnings Results

Sutro Biopharma (NASDAQ:STRO) announced 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 business had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million.

Sutro Biopharma Stock Performance

Shares of NASDAQ STRO traded down $5.25 during mid-day trading on Wednesday, reaching $19.79. The company had a trading volume of 409,310 shares, compared to its average volume of 250,272. The stock has a fifty day moving average of $27.24 and a two-hundred day moving average of $25.91. The company has a market capitalization of $327.92 million, a price-to-earnings ratio of -1.79 and a beta of 1.55. Sutro Biopharma has a 12-month low of $7.15 and a 12-month high of $43.85.

Wall Street Analysts Forecast Growth

STRO has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Citizens Jmp lifted their price objective on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 23rd. Barclays initiated coverage on shares of Sutro Biopharma in a research note on Thursday, May 28th. They set an “overweight” rating and a $56.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Wednesday, August 5th. Finally, Leerink Partners set a $43.00 target price on Sutro Biopharma and gave the stock an “outperform” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sutro Biopharma has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in STRO. State of Tennessee Department of Treasury purchased a new stake in Sutro Biopharma in the 4th quarter worth approximately $86,000. Opaleye Management Inc. purchased a new position in shares of Sutro Biopharma during the 4th quarter valued at $2,206,000. Balyasny Asset Management L.P. acquired a new position in shares of Sutro Biopharma in the fourth quarter worth $2,662,000. ADAR1 Capital Management LLC acquired a new position in shares of Sutro Biopharma in the fourth quarter worth $776,000. Finally, Jane Street Group LLC purchased a new stake in shares of Sutro Biopharma during the fourth quarter worth $265,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.