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

Sutro Biopharma (NASDAQ:STRO) released its earnings results on Thursday. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.64) by ($0.26), FiscalAI reports. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $14.11 million.

Sutro Biopharma Stock Down 6.5%

NASDAQ STRO opened at $9.59 on Friday. Sutro Biopharma has a twelve month low of $7.15 and a twelve month high of $43.85. The stock has a market cap of $159.00 million, a P/E ratio of -0.80 and a beta of 1.56. The company’s 50-day simple moving average is $13.39 and its 200 day simple moving average is $22.57.

Analyst Ratings Changes

Several equities analysts have commented on STRO shares. Citizens Jmp cut their price target on Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a report on Thursday, August 13th. Stifel Nicolaus set a $48.00 price objective on Sutro Biopharma and gave the stock a “buy” rating in a report on Friday, August 7th. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Sutro Biopharma in a report on Thursday, October 15th. Weiss Ratings upgraded Sutro Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Finally, Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $49.50.

Sutro Biopharma Company Profile

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.