Sutro Biopharma (NASDAQ:STRO – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($2.94) EPS for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20), Zacks reports. The firm had revenue of $14.52 million for the quarter, compared to analysts’ expectations of $8.89 million.
Sutro Biopharma Trading Down 3.0%
Shares of STRO stock traded down $1.18 during trading hours on Thursday, reaching $38.42. 117,451 shares of the stock were exchanged, compared to its average volume of 185,324. Sutro Biopharma has a 12-month low of $6.74 and a 12-month high of $41.88. The company’s 50-day moving average price is $28.46 and its 200-day moving average price is $17.94. The firm has a market capitalization of $636.54 million, a price-to-earnings ratio of -1.47 and a beta of 1.63.
Wall Street Analyst Weigh In
Several research firms have weighed in on STRO. Deutsche Bank Aktiengesellschaft increased their price target on shares of Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. HC Wainwright raised shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $28.00 in a research note on Tuesday, March 24th. Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.78.
Institutional Investors Weigh In On Sutro Biopharma
A number of institutional investors and hedge funds have recently added to or reduced their stakes in STRO. Invesco Ltd. lifted its holdings in Sutro Biopharma by 137.8% during the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after buying an additional 53,390 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after purchasing an additional 1,206,330 shares in the last quarter. Strs Ohio bought a new stake in shares of Sutro Biopharma in the 1st quarter valued at about $99,000. Marshall Wace LLP bought a new stake in shares of Sutro Biopharma in the 2nd quarter valued at about $166,000. Finally, Cerity Partners LLC raised its holdings in shares of Sutro Biopharma by 169.9% in the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock valued at $75,000 after purchasing an additional 66,372 shares in the last quarter. Institutional investors own 96.99% of the company’s stock.
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.
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