$11.48 Million in Sales Expected for Sutro Biopharma, Inc. (NASDAQ:STRO) This Quarter

Equities analysts forecast that Sutro Biopharma, Inc. (NASDAQ:STRO – Get Rating) will post sales of $11.48 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Sutro Biopharma’s earnings. The highest sales estimate is $22.16 million and the lowest is $2.50 million. Sutro Biopharma reported sales of $14.66 million during the same quarter last year, which indicates a negative year over year growth rate of 21.7%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Sutro Biopharma will report full year sales of $45.10 million for the current year, with estimates ranging from $10.00 million to $84.51 million. For the next financial year, analysts expect that the firm will report sales of $51.30 million, with estimates ranging from $12.00 million to $85.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Sutro Biopharma.

Sutro Biopharma (NASDAQ:STRO – Get Rating) last released its quarterly earnings data on Monday, February 28th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.09). Sutro Biopharma had a negative net margin of 170.55% and a negative return on equity of 32.96%.

Several research firms have commented on STRO. Zacks Investment Research raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, March 3rd. Wedbush dropped their price target on Sutro Biopharma from $37.00 to $30.00 in a research note on Thursday, January 6th. Finally, JMP Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Sutro Biopharma in a research note on Monday, April 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $27.50.

In related news, CEO William J. Newell purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average price of $7.75 per share, for a total transaction of $77,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd boosted its stake in Sutro Biopharma by 99.3% during the third quarter. Point72 Hong Kong Ltd now owns 1,329 shares of the company’s stock worth $25,000 after buying an additional 662 shares during the period. Royal Bank of Canada lifted its holdings in shares of Sutro Biopharma by 206.2% in the 3rd quarter. Royal Bank of Canada now owns 1,329 shares of the company’s stock worth $25,000 after acquiring an additional 895 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Sutro Biopharma by 19.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,609 shares of the company’s stock valued at $68,000 after purchasing an additional 596 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Sutro Biopharma in the 4th quarter worth about $150,000. Finally, BNP Paribas Arbitrage SA raised its position in Sutro Biopharma by 133.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,514 shares of the company’s stock worth $199,000 after purchasing an additional 6,002 shares during the period. Institutional investors own 94.51% of the company’s stock.

Shares of NASDAQ STRO opened at $7.03 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.24 and a current ratio of 5.24. The company has a market cap of $326.06 million, a P/E ratio of -3.07 and a beta of 0.97. The company has a fifty day moving average of $8.39. Sutro Biopharma has a 52-week low of $6.78 and a 52-week high of $23.70.

Sutro Biopharma Company Profile (Get Rating)

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 and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

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