Sutro Biopharma Inc (NASDAQ:STRO) Expected to Post Earnings of -$0.58 Per Share

Wall Street brokerages expect Sutro Biopharma Inc (NASDAQ:STRO) to announce earnings per share (EPS) of ($0.58) for the current quarter, Zacks reports. Three analysts have issued estimates for Sutro Biopharma’s earnings, with the lowest EPS estimate coming in at ($0.69) and the highest estimate coming in at ($0.40). The firm is scheduled to report its next earnings report on Wednesday, August 21st.

According to Zacks, analysts expect that Sutro Biopharma will report full year earnings of ($2.40) per share for the current year, with EPS estimates ranging from ($2.77) to ($1.89). For the next financial year, analysts forecast that the company will report earnings of ($2.86) per share, with EPS estimates ranging from ($3.31) to ($2.30). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Sutro Biopharma.

Several research analysts have recently commented on STRO shares. HC Wainwright set a $18.00 price target on Sutro Biopharma and gave the stock a “buy” rating in a report on Friday, May 17th. ValuEngine lowered Sutro Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Cowen reiterated a “buy” rating on shares of Sutro Biopharma in a report on Thursday, May 16th. Wedbush lifted their price target on Sutro Biopharma from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Finally, Zacks Investment Research lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.75.

Shares of NASDAQ STRO traded down $0.29 during trading on Tuesday, hitting $11.20. 99,858 shares of the company were exchanged, compared to its average volume of 43,563. Sutro Biopharma has a 12-month low of $8.50 and a 12-month high of $15.90. The firm has a market cap of $256.76 million and a PE ratio of -1.83.

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Sutro Biopharma during the 3rd quarter worth about $1,501,000. American International Group Inc. acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $38,000. Geode Capital Management LLC acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $456,000. VV Manager LLC acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $8,349,000. Finally, BlackRock Inc. increased its position in shares of Sutro Biopharma by 20.5% during the 4th quarter. BlackRock Inc. now owns 409,713 shares of the company’s stock worth $3,696,000 after purchasing an additional 69,813 shares during the last quarter. 49.00% of the stock is 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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