We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Sutro Biopharma (STRO) Surges 11.9%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Sutro Biopharma, Inc. (STRO - Free Report) shares ended the last trading session 11.9% higher at $15.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 23.4% gain over the past four weeks.
Sutro Biopharma’s stock price surge is likely tied to the pricing announcement of a major underwritten offering of shares. It strengthens the financial position of the company and extends its cash runaway to support ongoing clinical studies and pipeline advancement. Furthermore, the company is advancing multiple candidates which are designed with best-in-class potential for complex targets across multiple tumor types where competition remains limited.
This company is expected to post quarterly loss of $4.66 per share in its upcoming report, which represents a year-over-year change of +47.6%. Revenues are expected to be $9.08 million, down 35.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Sutro Biopharma, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STRO going forward to see if this recent jump can turn into more strength down the road.
Sutro Biopharma belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, TScan Therapeutics, Inc. (TCRX - Free Report) , closed the last trading session 1.4% higher at $1. Over the past month, TCRX has returned -16%.
For TScan Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +6.9% from what the company reported a year ago. TScan Therapeutics currently has a Zacks Rank of #3 (Hold).
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Sutro Biopharma (STRO) Surges 11.9%: Is This an Indication of Further Gains?
Sutro Biopharma, Inc. (STRO - Free Report) shares ended the last trading session 11.9% higher at $15.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 23.4% gain over the past four weeks.
Sutro Biopharma’s stock price surge is likely tied to the pricing announcement of a major underwritten offering of shares. It strengthens the financial position of the company and extends its cash runaway to support ongoing clinical studies and pipeline advancement. Furthermore, the company is advancing multiple candidates which are designed with best-in-class potential for complex targets across multiple tumor types where competition remains limited.
This company is expected to post quarterly loss of $4.66 per share in its upcoming report, which represents a year-over-year change of +47.6%. Revenues are expected to be $9.08 million, down 35.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Sutro Biopharma, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STRO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sutro Biopharma belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, TScan Therapeutics, Inc. (TCRX - Free Report) , closed the last trading session 1.4% higher at $1. Over the past month, TCRX has returned -16%.
For TScan Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +6.9% from what the company reported a year ago. TScan Therapeutics currently has a Zacks Rank of #3 (Hold).