Sutro Biopharma, Inc. (NASDAQ:STRO) Expected to Post Quarterly Sales of $13.80 Million

Equities research analysts predict that Sutro Biopharma, Inc. (NASDAQ:STRO) will report $13.80 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Sutro Biopharma’s earnings, with the highest sales estimate coming in at $20.00 million and the lowest estimate coming in at $5.00 million. Sutro Biopharma posted sales of $9.47 million in the same quarter last year, which suggests a positive year over year growth rate of 45.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 5th.

According to Zacks, analysts expect that Sutro Biopharma will report full year sales of $48.54 million for the current year, with estimates ranging from $29.70 million to $63.19 million. For the next fiscal year, analysts expect that the firm will report sales of $36.37 million, with estimates ranging from $8.00 million to $66.35 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Sutro Biopharma.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, May 6th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04). The firm had revenue of $14.66 million for the quarter, compared to analyst estimates of $6.92 million. Sutro Biopharma had a negative net margin of 85.39% and a negative return on equity of 40.67%.

STRO has been the subject of several research reports. Zacks Investment Research lowered Sutro Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, July 14th. TheStreet lowered Sutro Biopharma from a “c-” rating to a “d+” rating in a report on Monday, June 28th. HC Wainwright began coverage on Sutro Biopharma in a report on Friday, June 18th. They set a “buy” rating and a $35.00 price target for the company. Finally, JMP Securities reissued a “buy” rating and issued a $28.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, June 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sutro Biopharma presently has a consensus rating of “Buy” and an average target price of $26.86.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp grew its holdings in shares of Sutro Biopharma by 42.3% during the 4th quarter. Northern Trust Corp now owns 314,276 shares of the company’s stock worth $6,822,000 after purchasing an additional 93,467 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth approximately $2,861,000. SG Americas Securities LLC acquired a new stake in shares of Sutro Biopharma during the 1st quarter worth approximately $156,000. Credit Suisse AG acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth approximately $625,000. Finally, FIL Ltd grew its holdings in shares of Sutro Biopharma by 111.0% during the 4th quarter. FIL Ltd now owns 744,304 shares of the company’s stock worth $16,158,000 after purchasing an additional 391,561 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors.

Shares of Sutro Biopharma stock traded down $0.60 during trading on Friday, hitting $17.63. 279,056 shares of the stock traded hands, compared to its average volume of 479,810. The company has a debt-to-equity ratio of 0.08, a current ratio of 11.74 and a quick ratio of 11.74. Sutro Biopharma has a twelve month low of $7.27 and a twelve month high of $28.30. The business’s fifty day moving average is $18.61.

About Sutro Biopharma

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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