Sutro Biopharma (NASDAQ:STRO) Announces Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Sutro Biopharma (NASDAQ:STRO) posted its quarterly earnings data on Thursday. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20), Zacks reports. The company had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million.

Sutro Biopharma Stock Down 3.0%

NASDAQ:STRO traded down $1.18 on Thursday, reaching $38.42. 117,451 shares of the company’s stock traded hands, compared to its average volume of 185,324. The stock has a 50-day simple moving average of $28.46 and a 200-day simple moving average of $17.94. The firm has a market cap of $636.54 million, a PE ratio of -1.47 and a beta of 1.63. Sutro Biopharma has a 12 month low of $6.74 and a 12 month high of $41.88.

Institutional Investors Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Velan Capital Investment Management LP raised its holdings in Sutro Biopharma by 2.0% during the third quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock valued at $2,709,000 after acquiring an additional 60,000 shares during the period. UBS Group AG grew its holdings in Sutro Biopharma by 14.0% during the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock valued at $1,602,000 after buying an additional 226,955 shares in the last quarter. AQR Capital Management LLC grew its holdings in Sutro Biopharma by 1,052.8% during the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after buying an additional 1,206,330 shares in the last quarter. Jane Street Group LLC purchased a new stake in Sutro Biopharma during the 2nd quarter valued at approximately $492,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Sutro Biopharma during the 3rd quarter valued at approximately $387,000. 96.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on STRO shares. Citigroup restated an “outperform” rating on shares of Sutro Biopharma in a research note on Friday, April 17th. Wells Fargo & Company upgraded Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Wall Street Zen upgraded shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. HC Wainwright upgraded shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $28.00 in a research note on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Sutro Biopharma presently has a consensus rating of “Moderate Buy” and an average price target of $40.78.

Sutro Biopharma Company Profile

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.