Sutro Biopharma (NASDAQ:STRO) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

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Sutro Biopharma (NASDAQ:STRO) released its quarterly earnings data on Wednesday. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.05), Bloomberg Earnings reports. The company had revenue of $10.53 million for the quarter, compared to analyst estimates of $8.38 million.

Shares of STRO stock traded up $0.37 on Thursday, hitting $8.93. The company’s stock had a trading volume of 1,020 shares, compared to its average volume of 22,884. Sutro Biopharma has a fifty-two week low of $8.34 and a fifty-two week high of $15.90. The firm’s fifty day moving average price is $11.14. The firm has a market cap of $221.69 million and a PE ratio of -1.44.

STRO has been the subject of several analyst reports. Cowen reaffirmed a “buy” rating on shares of Sutro Biopharma in a research note on Sunday, June 16th. HC Wainwright set a $18.00 price objective on shares of Sutro Biopharma and gave the company a “buy” rating in a research note on Monday, June 24th. Zacks Investment Research reaffirmed a “hold” rating on shares of Sutro Biopharma in a research note on Saturday, June 29th. Deutsche Bank initiated coverage on shares of Sutro Biopharma in a research note on Thursday, July 18th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Sutro Biopharma presently has a consensus rating of “Buy” and an average target price of $22.60.

About Sutro Biopharma

Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.

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