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

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

Sutro Biopharma Trading Down 6.5%

Shares of NASDAQ STRO traded down $0.67 during trading hours on Thursday, hitting $9.59. 657,271 shares of the company traded hands, compared to its average volume of 273,651. The company’s 50 day moving average price is $13.61 and its 200 day moving average price is $22.60. The stock has a market capitalization of $159.00 million, a price-to-earnings ratio of -0.80 and a beta of 1.56. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85.

Analysts Set New Price Targets

A number of equities analysts have recently commented on STRO shares. Wall Street Zen lowered shares of Sutro Biopharma from a “sell” rating to a “strong sell” rating in a report on Sunday. Mizuho upgraded Sutro Biopharma to a “strong-buy” rating in a report on Wednesday, September 16th. HC Wainwright reaffirmed a “buy” rating on shares of Sutro Biopharma in a research note on Friday, October 16th. Wells Fargo & Company assumed coverage on shares of Sutro Biopharma in a research report on Wednesday, September 30th. They set an “overweight” rating and a $49.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Sutro Biopharma in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sutro Biopharma presently has an average 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.