Starling Oncology Stock Drops 32% After Q3 Earnings Miss and Cautious 2026 Guidance

Starling Oncology shares fell roughly 32.1% on Friday after the company reported third-quarter 2026 results and issued full-year guidance that disappointed investors. The oncology services company set its 2026 revenue outlook at $650 million to $660 million, with adjusted EBITDA expected in a narrow $4 million to $6 million range, signaling thin profitability margins even as top-line growth continues.

Looking ahead to 2027, management highlighted a goal of 100% capitated revenue growth, pointing to a strategic push toward value-based care contracts that shift financial risk from payers to providers. That target suggests the company is prioritizing a structural shift in its revenue mix rather than near-term earnings expansion.

Options activity in STLN was notably elevated on Friday, with 15,811 contracts trading, representing approximately 1.6 million underlying shares, well above typical volumes. The sharp stock decline placed Starling Oncology among the worst performers in the hospital and medical practitioners sector, which itself fell about 5.2% on the day.