Analysts expect that Sutro Biopharma, Inc. (NASDAQ:STRO) will report $12.20 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Sutro Biopharma's earnings, with the highest sales estimate coming in at $19.54 million and the lowest estimate coming in at $7.00 million. Sutro Biopharma reported sales of $11.31 million in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The company is scheduled to announce its next earnings report on Monday, March 15th.
On average, analysts expect that Sutro Biopharma will report full-year sales of $45.30 million for the current financial year, with estimates ranging from $39.40 million to $53.99 million. For the next year, analysts expect that the firm will post sales of $28.87 million, with estimates ranging from $8.37 million to $53.00 million. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that cover Sutro Biopharma.
A number of equities analysts recently issued reports on STRO shares. Stifel Nicolaus started coverage on Sutro Biopharma in a research note on Wednesday, December 2nd. They issued a "buy" rating and a $25.00 target price for the company. Piper Sandler increased their price target on Sutro Biopharma from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, November 6th. Truist increased their price target on Sutro Biopharma from $24.00 to $37.00 in a research report on Thursday, January 28th. Finally, Zacks Investment Research downgraded Sutro Biopharma from a "hold" rating to a "sell" rating in a research report on Saturday, February 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company's stock. The stock has an average rating of "Buy" and an average target price of $21.36.
In other news, insider Trevor Hallam sold 2,393 shares of the firm's stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $25.71, for a total transaction of $61,524.03. Following the sale, the insider now directly owns 58,510 shares in the company, valued at approximately $1,504,292.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 7,179 shares of company stock worth $155,760 over the last 90 days. Insiders own 28.90% of the company's stock.
Several large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in Sutro Biopharma by 80.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,659 shares of the company's stock worth $47,000 after buying an additional 2,079 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in Sutro Biopharma in the 3rd quarter worth about $56,000. BNP Paribas Arbitrage SA boosted its holdings in Sutro Biopharma by 646.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company's stock worth $62,000 after buying an additional 5,358 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Sutro Biopharma in the 4th quarter worth about $151,000. Finally, Voloridge Investment Management LLC acquired a new stake in Sutro Biopharma in the 4th quarter worth about $219,000. Hedge funds and other institutional investors own 78.80% of the company's stock.
Shares of STRO stock opened at $23.64 on Friday. The firm has a market capitalization of $912.60 million, a price-to-earnings ratio of -262.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 9.77 and a quick ratio of 9.77. The business has a fifty day moving average of $24.76 and a 200 day moving average of $16.70. Sutro Biopharma has a 1 year low of $6.00 and a 1 year high of $28.30.
Sutro Biopharma Company Profile
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; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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