Sutro Biopharma (NASDAQ:STRO) Posts Earnings Results, Misses Expectations By $0.28 EPS

Sutro Biopharma (NASDAQ:STRO) announced its quarterly earnings data on Thursday. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.28), FiscalAI reports. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 201.32%.The company had revenue of $9.69 million for the quarter.

Sutro Biopharma Trading Down 3.9%

Shares of Sutro Biopharma stock traded down $0.04 during trading on Thursday, reaching $0.94. The stock had a trading volume of 513,786 shares, compared to its average volume of 1,666,333. The company has a market capitalization of $79.87 million, a price-to-earnings ratio of -0.37 and a beta of 1.75. The stock has a fifty day moving average price of $0.95 and a two-hundred day moving average price of $0.88. Sutro Biopharma has a 52 week low of $0.52 and a 52 week high of $4.60.

Insider Activity at Sutro Biopharma

In related news, Director Connie Matsui bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were acquired at an average price of $0.80 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the director owned 50,000 shares of the company’s stock, valued at approximately $40,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought 111,754 shares of company stock valued at $89,601 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Sutro Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in Sutro Biopharma by 137.8% during the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after acquiring an additional 53,390 shares in the last quarter. Cerity Partners LLC raised its holdings in Sutro Biopharma by 169.9% during the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after acquiring an additional 66,372 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Sutro Biopharma during the second quarter worth about $82,000. Strs Ohio acquired a new position in Sutro Biopharma during the first quarter worth approximately $99,000. Finally, Marshall Wace LLP acquired a new position in Sutro Biopharma during the second quarter worth approximately $166,000. Institutional investors own 96.99% of the company’s stock.

Wall Street Analysts Forecast Growth

STRO has been the subject of a number of analyst reports. Wall Street Zen raised Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Wells Fargo & Company decreased their price objective on Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sutro Biopharma in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.47.

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.