Sutro Biopharma (NASDAQ:STRO) Posts Earnings Results, Beats Expectations By $1.24 EPS

Sutro Biopharma (NASDAQ:STRO) posted its quarterly earnings results on Monday. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $1.24, reports. The company had revenue of $113.72 million during the quarter, compared to the consensus estimate of $12.16 million. Sutro Biopharma had a negative return on equity of 71.42% and a negative net margin of 69.47%.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $4.93 on Thursday. Sutro Biopharma has a one year low of $2.01 and a one year high of $6.11. The business has a 50 day simple moving average of $4.47 and a 200 day simple moving average of $3.77.

Insider Buying and Selling

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction on Monday, January 29th. The stock was sold at an average price of $5.00, for a total value of $60,925.00. Following the completion of the transaction, the insider now owns 12,803 shares in the company, valued at approximately $64,015. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Sutro Biopharma by 14,125.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after acquiring an additional 8,758 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Sutro Biopharma by 331.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock worth $46,000 after acquiring an additional 4,372 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Sutro Biopharma during the second quarter worth about $46,000. Tower Research Capital LLC TRC lifted its holdings in Sutro Biopharma by 342.3% during the third quarter. Tower Research Capital LLC TRC now owns 15,128 shares of the company’s stock worth $52,000 after acquiring an additional 11,708 shares in the last quarter. Finally, Ergoteles LLC bought a new position in Sutro Biopharma during the second quarter worth about $54,000. 96.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on STRO shares. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a report on Tuesday. HC Wainwright lowered their target price on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday. Wedbush lowered their target price on Sutro Biopharma from $12.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Sutro Biopharma in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Sutro Biopharma has an average rating of “Buy” and an average price target of $13.71.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.