Sutro Biopharma (NASDAQ:STRO) Issues Quarterly Earnings Results, Misses Expectations By $0.73 EPS

Sutro Biopharma (NASDAQ:STRO) issued its quarterly earnings data on Monday. The company reported ($5.39) EPS for the quarter, missing analysts’ consensus estimates of ($4.66) by ($0.73), FiscalAI reports. Sutro Biopharma had a negative net margin of 206.77% and a negative return on equity of 852.70%. The firm had revenue of $11.65 million during the quarter, compared to analyst estimates of $9.26 million.

Sutro Biopharma Trading Up 3.1%

STRO stock traded up $0.65 during mid-day trading on Monday, hitting $21.33. The stock had a trading volume of 301,212 shares, compared to its average volume of 150,371. The firm has a fifty day simple moving average of $17.93 and a 200 day simple moving average of $12.51. The firm has a market capitalization of $181.52 million, a P/E ratio of -0.82 and a beta of 1.47. Sutro Biopharma has a 52 week low of $5.23 and a 52 week high of $26.54.

Institutional Trading of Sutro Biopharma

Large investors have recently made changes to their positions in the company. Velan Capital Investment Management LP increased its holdings 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 worth $2,709,000 after purchasing an additional 60,000 shares in the last quarter. UBS Group AG boosted its stake in shares of Sutro Biopharma by 14.0% during the third quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock valued at $1,602,000 after purchasing an additional 226,955 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Sutro Biopharma by 1,052.8% during the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after purchasing an additional 1,206,330 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Sutro Biopharma in the second quarter valued at approximately $492,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Sutro Biopharma in the third quarter valued at approximately $387,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on STRO shares. HC Wainwright upped their price target on shares of Sutro Biopharma to $10.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Citizens Jmp upgraded shares of Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 price objective for the company in a research note on Tuesday, January 20th. Wedbush restated a “neutral” rating and set a $100.00 target price (up from $20.00) on shares of Sutro Biopharma in a research report on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sutro Biopharma in a report on Wednesday, December 17th. Finally, Citigroup upgraded Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.83.

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.