Sutro Biopharma Inc Up 12.39% To $3.68 After Earnings Beat

Sutro Biopharma Inc (STRO) said after close Monday that it earned $0.52 per share in quarter four 2023.

On the revenue line, the company reported $113.7 million, beating estimates by $101.9 million.

In the same quarter a year ago, the company lost $0.61 per share on revenue of $8.6 million.

The stock is up 12.39% to $3.68 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 51. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Sutro Biopharma Inc is clinical-stage drug discovery, development, and manufacturing company. It is mainly engaged in the development of biopharmaceutical products. The company manufactures next-generation protein therapeutics for cancer and autoimmune disorders through its proprietary integrated cell-free protein synthesis platform, XpressCF. Products offered by the company include STRO-001 for patients with multiple myeloma and non-Hodgkin lymphoma and STRO-002 for the treatment of ovarian and endometrial cancers.