Sutro Biopharma Inc (NASDAQ:STRO) Expected to Post Quarterly Sales of $8.80 Million

Brokerages predict that Sutro Biopharma Inc (NASDAQ:STRO) will announce sales of $8.80 million for the current quarter, according to Zacks. Four analysts have made estimates for Sutro Biopharma’s earnings. The lowest sales estimate is $4.12 million and the highest is $12.00 million. Sutro Biopharma posted sales of $10.53 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.4%. The company is expected to issue its next quarterly earnings report on Wednesday, August 12th.

On average, analysts expect that Sutro Biopharma will report full year sales of $30.51 million for the current financial year, with estimates ranging from $19.50 million to $40.90 million. For the next financial year, analysts expect that the company will post sales of $28.55 million, with estimates ranging from $7.88 million to $46.25 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Sutro Biopharma.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.15). The company had revenue of $7.15 million during the quarter, compared to analyst estimates of $11.16 million. Sutro Biopharma had a negative net margin of 148.06% and a negative return on equity of 59.70%.

A number of research analysts have recently issued reports on the company. Cowen reissued a “buy” rating on shares of Sutro Biopharma in a report on Monday, March 16th. ValuEngine raised Sutro Biopharma from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Zacks Investment Research raised Sutro Biopharma from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a report on Saturday, May 16th. Piper Sandler dropped their target price on Sutro Biopharma from $23.00 to $20.00 in a report on Monday, May 18th. Finally, B. Riley lowered Sutro Biopharma to a “hold” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.32.

Sutro Biopharma stock traded up $0.29 during mid-day trading on Friday, reaching $9.02. 181,300 shares of the company were exchanged, compared to its average volume of 261,857. Sutro Biopharma has a twelve month low of $6.00 and a twelve month high of $12.75. The firm’s 50-day simple moving average is $9.05 and its two-hundred day simple moving average is $10.03. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 0.29.

In other news, insider Arturo Md Molina bought 6,451 shares of Sutro Biopharma stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $7.75 per share, with a total value of $49,995.25. Following the completion of the transaction, the insider now owns 12,083 shares in the company, valued at approximately $93,643.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William J. Newell bought 64,516 shares of Sutro Biopharma stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $7.75 per share, for a total transaction of $499,999.00. Following the completion of the transaction, the chief executive officer now owns 166,627 shares of the company’s stock, valued at approximately $1,291,359.25. The disclosure for this purchase can be found here. Corporate insiders own 28.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP acquired a new stake in Sutro Biopharma in the fourth quarter valued at $112,000. Renaissance Technologies LLC acquired a new stake in Sutro Biopharma in the fourth quarter valued at $113,000. Goldman Sachs Group Inc. acquired a new stake in Sutro Biopharma in the fourth quarter valued at $127,000. UBS Group AG raised its holdings in Sutro Biopharma by 54.9% in the fourth quarter. UBS Group AG now owns 13,464 shares of the company’s stock valued at $148,000 after acquiring an additional 4,774 shares in the last quarter. Finally, Barclays PLC raised its holdings in Sutro Biopharma by 43.7% in the fourth quarter. Barclays PLC now owns 18,299 shares of the company’s stock valued at $202,000 after acquiring an additional 5,567 shares in the last quarter. 51.10% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Sutro Biopharma (NASDAQ:STRO)

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