Analysts forecast that Sutro Biopharma Inc (NASDAQ:STRO) will report earnings of ($0.70) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Sutro Biopharma’s earnings, with the highest EPS estimate coming in at ($0.56) and the lowest estimate coming in at ($0.83). The firm is expected to issue its next earnings results on Monday, April 6th.
According to Zacks, analysts expect that Sutro Biopharma will report full year earnings of ($2.49) per share for the current fiscal year, with EPS estimates ranging from ($2.62) to ($2.35). For the next fiscal year, analysts anticipate that the company will report earnings of ($2.93) per share, with EPS estimates ranging from ($3.59) to ($2.44). Zacks’ EPS averages are an average based on a survey of analysts that follow Sutro Biopharma.
Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.09. The business had revenue of $12.28 million for the quarter, compared to analysts’ expectations of $8.88 million.
Several research firms have recently weighed in on STRO. BTIG Research began coverage on Sutro Biopharma in a research report on Monday, October 7th. They issued a “buy” rating and a $19.00 target price on the stock. Wedbush restated an “outperform” rating on shares of Sutro Biopharma in a research report on Wednesday, October 30th. Zacks Investment Research downgraded Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 17th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Sutro Biopharma in a research report on Monday, October 21st. Finally, ValuEngine downgraded Sutro Biopharma from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $19.40.
Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in Sutro Biopharma by 1,365.7% during the second quarter. Acadian Asset Management LLC now owns 9,058 shares of the company’s stock worth $103,000 after buying an additional 8,440 shares in the last quarter. Wells Fargo & Company MN lifted its position in Sutro Biopharma by 240.7% during the second quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock worth $130,000 after buying an additional 8,113 shares in the last quarter. Rhumbline Advisers lifted its position in Sutro Biopharma by 9.3% during the third quarter. Rhumbline Advisers now owns 13,578 shares of the company’s stock worth $123,000 after buying an additional 1,156 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Sutro Biopharma by 72.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 22,592 shares of the company’s stock worth $258,000 after buying an additional 9,482 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Sutro Biopharma by 104.8% during the second quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock worth $347,000 after buying an additional 15,591 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.
Shares of NASDAQ STRO traded up $0.12 during midday trading on Monday, hitting $10.58. The stock had a trading volume of 62,700 shares, compared to its average volume of 39,201. The company has a market capitalization of $242.68 million, a PE ratio of -1.73 and a beta of 1.05. The stock has a 50 day simple moving average of $10.10 and a 200-day simple moving average of $10.40. Sutro Biopharma has a 1 year low of $7.69 and a 1 year high of $12.49.
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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