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

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Sutro Biopharma (NASDAQ:STRO) issued its earnings results on Wednesday, August 14th. The company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.05), Bloomberg Earnings reports. The firm had revenue of $10.53 million for the quarter, compared to analyst estimates of $8.38 million.

STRO stock traded up $0.87 during trading on Friday, hitting $9.50. 151,939 shares of the company’s stock traded hands, compared to its average volume of 48,909. The firm has a market capitalization of $197.87 million and a P/E ratio of -1.55. Sutro Biopharma has a 1 year low of $7.69 and a 1 year high of $15.90. The business has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $10.56.

A number of brokerages have recently commented on STRO. Cowen reaffirmed a “buy” rating on shares of Sutro Biopharma in a research report on Sunday, June 16th. HC Wainwright set a $18.00 target price on shares of Sutro Biopharma and gave the stock a “buy” rating in a research report on Monday, June 24th. ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank started coverage on shares of Sutro Biopharma in a report on Thursday, July 18th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, August 17th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Sutro Biopharma currently has a consensus rating of “Buy” and a consensus target price of $20.20.

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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