Sutro Biopharma (NASDAQ:STRO) Issues Quarterly Earnings Results

Sutro Biopharma (NASDAQ:STRO - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.28), Zacks reports. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The company had revenue of $17.40 million for the quarter, compared to analysts' expectations of $11.61 million.

Sutro Biopharma Price Performance

Shares of STRO stock traded down $0.08 on Wednesday, hitting $0.73. The stock had a trading volume of 1,359,753 shares, compared to its average volume of 1,105,120. The company's 50 day moving average price is $0.82 and its 200-day moving average price is $1.79. Sutro Biopharma has a 1 year low of $0.52 and a 1 year high of $5.17. The firm has a market capitalization of $61.84 million, a P/E ratio of -0.46 and a beta of 1.77.

Hedge Funds Weigh In On Sutro Biopharma

A hedge fund recently raised its stake in Sutro Biopharma stock. Invesco Ltd. lifted its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 137.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,139 shares of the company's stock after purchasing an additional 53,390 shares during the quarter. Invesco Ltd. owned about 0.11% of Sutro Biopharma worth $60,000 as of its most recent filing with the SEC. 96.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STRO has been the subject of a number of analyst reports. Citizens Jmp lowered shares of Sutro Biopharma from an "outperform" rating to a "market perform" rating in a report on Friday, March 14th. Wedbush lowered shares of Sutro Biopharma from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $8.00 to $2.00 in a research report on Friday, March 14th. Piper Sandler set a $2.00 price objective on Sutro Biopharma in a research report on Friday, March 14th. Bank of America downgraded Sutro Biopharma from a "buy" rating to an "underperform" rating and reduced their target price for the company from $11.00 to $1.00 in a research report on Friday, March 14th. Finally, HC Wainwright reiterated a "neutral" rating and set a $2.00 price target on shares of Sutro Biopharma in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sutro Biopharma currently has an average rating of "Hold" and an average price target of $6.63.

About Sutro Biopharma

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.