Equities analysts expect that Sutro Biopharma Inc (NASDAQ:STRO) will post sales of $8.88 million for the current quarter, Zacks reports. Four analysts have provided estimates for Sutro Biopharma’s earnings, with estimates ranging from $5.76 million to $11.25 million. Sutro Biopharma posted sales of $7.84 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The business is expected to issue its next earnings results on Wednesday, November 13th.
On average, analysts expect that Sutro Biopharma will report full year sales of $37.16 million for the current financial year, with estimates ranging from $30.67 million to $41.65 million. For the next financial year, analysts forecast that the company will report sales of $36.35 million, with estimates ranging from $28.40 million to $45.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Sutro Biopharma.
Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Wednesday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.05). The company had revenue of $10.53 million during the quarter, compared to the consensus estimate of $8.38 million.
Several large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Sutro Biopharma in the 2nd quarter worth approximately $3,669,000. Vanguard Group Inc. raised its position in shares of Sutro Biopharma by 10.5% in the 2nd quarter. Vanguard Group Inc. now owns 195,254 shares of the company’s stock worth $2,222,000 after acquiring an additional 18,482 shares in the last quarter. BlackRock Inc. raised its position in shares of Sutro Biopharma by 72.4% in the 2nd quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock worth $6,193,000 after acquiring an additional 228,480 shares in the last quarter. Northern Trust Corp raised its position in shares of Sutro Biopharma by 6.6% in the 2nd quarter. Northern Trust Corp now owns 79,777 shares of the company’s stock worth $907,000 after acquiring an additional 4,910 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Sutro Biopharma by 104.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock worth $347,000 after acquiring an additional 15,591 shares in the last quarter. 51.56% of the stock is owned by hedge funds and other institutional investors.
STRO stock traded up $0.23 during trading on Friday, hitting $9.35. 1,390 shares of the company traded hands, compared to its average volume of 86,440. The company has a 50-day moving average of $9.20 and a 200-day moving average of $10.50. The firm has a market capitalization of $206.19 million and a PE ratio of -1.49. Sutro Biopharma has a 1 year low of $7.69 and a 1 year high of $14.99.
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 platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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