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

Sutro Biopharma (NASDAQ:STRO) released its quarterly earnings data on Wednesday. The company reported ($2.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14), FiscalAI reports. The firm had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million.

Sutro Biopharma Price Performance

Shares of STRO stock opened at $21.30 on Thursday. The firm has a 50-day moving average of $27.12 and a 200-day moving average of $25.95. The company has a market cap of $352.94 million, a P/E ratio of -1.93 and a beta of 1.55. Sutro Biopharma has a one year low of $7.15 and a one year high of $43.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STRO. Velan Capital Investment Management LP increased its stake in Sutro Biopharma by 2.0% in the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock valued at $2,709,000 after buying an additional 60,000 shares during the last quarter. UBS Group AG boosted its stake in shares of Sutro Biopharma by 14.0% in the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock worth $1,602,000 after buying an additional 226,955 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after acquiring an additional 1,206,330 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Sutro Biopharma in the second quarter valued at approximately $492,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Sutro Biopharma during the third quarter valued at approximately $387,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on STRO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Wednesday, August 5th. Leerink Partners set a $43.00 price target on shares of Sutro Biopharma and gave the company an “outperform” rating in a research report on Friday, May 15th. Truist Financial started coverage on shares of Sutro Biopharma in a report on Thursday, June 11th. They set a “buy” rating and a $50.00 price objective on the stock. Lifesci Capital upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Finally, Wall Street Zen cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.00.

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.