Sutro Biopharma (NASDAQ:STRO) Releases Earnings Results, Misses Estimates By $0.26 EPS

Sutro Biopharma (NASDAQ:STRO) issued its quarterly earnings results on Thursday. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.64) by ($0.26), FiscalAI reports. The company had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $14.11 million.

Sutro Biopharma Stock Performance

NASDAQ STRO traded down $0.67 during trading on Thursday, hitting $9.59. The stock had a trading volume of 657,271 shares, compared to its average volume of 273,651. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85. The company’s 50-day moving average price is $13.61 and its two-hundred day moving average price is $22.60. The company has a market capitalization of $159.00 million, a PE ratio of -0.80 and a beta of 1.56.

Analyst Ratings Changes

A number of analysts recently issued reports on STRO shares. HC Wainwright reissued a “buy” rating on shares of Sutro Biopharma in a research report on Friday, October 16th. Mizuho raised Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, September 16th. Stifel Nicolaus set a $48.00 target price on shares of Sutro Biopharma and gave the company a “buy” rating in a research note on Friday, August 7th. Wall Street Zen cut Sutro Biopharma from a “sell” rating to a “strong sell” rating in a research report on Sunday. Finally, Wedbush restated an “outperform” rating and set a $60.00 price target on shares of Sutro Biopharma in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $49.50.

Sutro Biopharma Company Profile

Sutro Biopharma is a biotechnology company focused on discovering and developing targeted cancer treatments. Its research has centered on antibody-drug conjugates (ADCs), which use antibodies to deliver cancer-fighting drugs to selected cells. The company developed its XpressCF+ platform, a cell-free protein synthesis and site-specific conjugation technology intended to support the design and production of biologic medicines. Sutro’s clinical-stage programs have included luveltamab tazevibulin, an ADC targeting folate receptor alpha, and STRO-003, an ADC targeting ROR1.