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

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

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO traded down $0.67 during midday trading on Thursday, reaching $9.59. The company had a trading volume of 657,271 shares, compared to its average volume of 273,651. The company has a fifty day simple moving average of $13.61 and a two-hundred day simple moving average of $22.60. The firm has a market cap of $159.00 million, a price-to-earnings ratio of -0.80 and a beta of 1.56. Sutro Biopharma has a 1-year low of $7.15 and a 1-year high of $43.85.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on STRO shares. Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Mizuho upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, September 16th. Wall Street Zen cut Sutro Biopharma from a “sell” rating to a “strong sell” rating in a report on Sunday. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Sutro Biopharma in a report on Thursday, October 15th. Finally, HC Wainwright reiterated a “buy” rating on shares of Sutro Biopharma in a research report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $49.50.

About Sutro Biopharma

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.