Sutro Biopharma, Inc. (STRO) Reports Q3 Loss, Misses Revenue Estimates

Core Viewpoint - Sutro Biopharma, Inc. reported a quarterly loss of $0.59 per share, which was better than the Zacks Consensus Estimate of a loss of$0.74, indicating an earnings surprise of 20.27% [1] Financial Performance - The company posted revenues of $8.52 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 53.76$16.92 million a year ago [2] - Over the last four quarters, Sutro Biopharma has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - Sutro Biopharma shares have declined approximately 4.9% since the beginning of the year, while the S&P 500 has gained 25.5% [3] - The current Zacks Rank for Sutro Biopharma is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.75 on revenues of$17.4 million, and for the current fiscal year, it is -$2.96 on revenues of$69.17 million [7] - The trend of estimate revisions for Sutro Biopharma is mixed, which could change following the recent earnings report [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Sutro Biopharma belongs, is currently in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]