Sutro Biopharma (NASDAQ:STRO) Issues Earnings Results

Sutro Biopharma (NASDAQ:STRO) issued its earnings results on Monday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.28), Zacks reports. The company had revenue of $17.40 million during the quarter, compared to analyst estimates of $11.61 million. Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%.

Sutro Biopharma Stock Down 9.1%

Shares of STRO opened at $0.87 on Monday. The company’s fifty day moving average is $0.85 and its 200-day moving average is $1.83. Sutro Biopharma has a 12 month low of $0.52 and a 12 month high of $5.17. The firm has a market cap of $73.46 million, a price-to-earnings ratio of -0.54 and a beta of 1.77.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citizens Jmp lowered shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, March 14th. Bank of America cut shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $11.00 to $1.00 in a research report on Friday, March 14th. Wedbush cut shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $8.00 to $2.00 in a report on Friday, March 14th. Piper Sandler set a $2.00 target price on shares of Sutro Biopharma in a research note on Friday, March 14th. Finally, HC Wainwright reissued a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.63.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.