Sutro Biopharma Inc (NASDAQ:STRO) Forecasted to Earn Q3 2019 Earnings of ($0.72) Per Share

Sutro Biopharma Inc (NASDAQ:STRO) – Investment analysts at Piper Jaffray Companies lowered their Q3 2019 earnings estimates for shares of Sutro Biopharma in a research note issued on Wednesday, August 14th, Zacks Investment Research reports. Piper Jaffray Companies analyst E. Tenthoff now forecasts that the company will earn ($0.72) per share for the quarter, down from their previous estimate of ($0.69). Piper Jaffray Companies also issued estimates for Sutro Biopharma’s Q4 2019 earnings at ($0.71) EPS, FY2019 earnings at ($2.66) EPS, Q1 2020 earnings at ($0.78) EPS, Q2 2020 earnings at ($0.88) EPS, Q3 2020 earnings at ($0.87) EPS, Q4 2020 earnings at ($1.04) EPS and FY2020 earnings at ($3.58) EPS.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ 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.

A number of other equities research analysts have also recently commented on the company. Cowen reiterated a “buy” rating on shares of Sutro Biopharma in a research note on Sunday, June 16th. HC Wainwright set a $18.00 target price on shares of Sutro Biopharma and gave the stock a “buy” rating in a research note on Monday, June 24th. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Sutro Biopharma in a research note on Thursday, September 5th. Zacks Investment Research lowered shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. Finally, ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.20.

Shares of Sutro Biopharma stock traded up $0.99 during trading on Monday, hitting $9.77. The company’s stock had a trading volume of 51,627 shares, compared to its average volume of 60,616. The stock has a market cap of $216.67 million and a price-to-earnings ratio of -1.59. Sutro Biopharma has a 52 week low of $7.69 and a 52 week high of $15.90. The stock has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $10.55.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Sutro Biopharma by 20.5% in the fourth 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 period. Northern Trust Corp purchased a new position in shares of Sutro Biopharma during the fourth quarter valued at approximately $580,000. Geode Capital Management LLC purchased a new position in shares of Sutro Biopharma during the fourth quarter valued at approximately $456,000. Deutsche Bank AG bought a new stake in shares of Sutro Biopharma in the 4th quarter worth approximately $87,000. Finally, SG Americas Securities LLC boosted its position in shares of Sutro Biopharma by 40.6% in the 1st quarter. SG Americas Securities LLC now owns 26,380 shares of the company’s stock worth $300,000 after purchasing an additional 7,619 shares in the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

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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