Analysts Anticipate SQZ Biotechnologies (NYSE:SQZ) Will Post Quarterly Sales of $9.74 Million

Brokerages forecast that SQZ Biotechnologies (NYSE:SQZ) will post $9.74 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for SQZ Biotechnologies’ earnings, with the lowest sales estimate coming in at $9.48 million and the highest estimate coming in at $10.00 million. The firm is scheduled to announce its next quarterly earnings results on Thursday, March 17th.

According to Zacks, analysts expect that SQZ Biotechnologies will report full year sales of $24.46 million for the current financial year, with estimates ranging from $24.23 million to $24.70 million. For the next fiscal year, analysts anticipate that the company will report sales of $45.78 million, with estimates ranging from $31.90 million to $59.66 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for SQZ Biotechnologies.

SQZ Biotechnologies (NYSE:SQZ) last announced its earnings results on Wednesday, November 10th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.24). SQZ Biotechnologies had a negative net margin of 432.38% and a negative return on equity of 51.18%.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of SQZ Biotechnologies by 423.7% in the second quarter. BlackRock Inc. now owns 1,215,951 shares of the company’s stock valued at $17,571,000 after purchasing an additional 983,747 shares in the last quarter. 683 Capital Management LLC grew its stake in shares of SQZ Biotechnologies by 133.9% in the second quarter. 683 Capital Management LLC now owns 1,375,171 shares of the company’s stock worth $19,871,000 after acquiring an additional 787,193 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SQZ Biotechnologies by 141.0% during the second quarter. Vanguard Group Inc. now owns 890,577 shares of the company’s stock worth $12,868,000 after acquiring an additional 520,995 shares during the period. Temasek Holdings Private Ltd increased its position in shares of SQZ Biotechnologies by 8.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,758,169 shares of the company’s stock worth $39,773,000 after acquiring an additional 223,993 shares during the period. Finally, State Street Corp raised its stake in shares of SQZ Biotechnologies by 321.0% in the second quarter. State Street Corp now owns 285,928 shares of the company’s stock valued at $4,132,000 after acquiring an additional 218,007 shares in the last quarter. 48.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of SQZ stock traded down $0.24 on Friday, hitting $13.26. The stock had a trading volume of 45,002 shares, compared to its average volume of 144,843. SQZ Biotechnologies has a 1 year low of $11.15 and a 1 year high of $35.17. The firm has a 50 day moving average of $13.84.

About SQZ Biotechnologies

SQZ Biotechnologies Company, a clinical-stage biotechnology company, develops transformative cell therapies for patients with cancer, infectious diseases, and other serious conditions. Its lead product candidate is SQZ-PBMC-HPV, from its SQZ Antigen Presenting Cells platform, which is in a Phase I clinical trial as a monotherapy and in combination with other immuno-oncology agents for the treatment of HPV16+ advanced or metastatic solid tumors, including cervical, head-and-neck, anal, penile, vulvar, and vaginal cancer.

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