FY2024 EPS Forecast for Sutro Biopharma Boosted by Analyst

Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) - HC Wainwright raised their FY2024 earnings per share (EPS) estimates for Sutro Biopharma in a research note issued to investors on Monday, November 18th. HC Wainwright analyst A. Fein now anticipates that the company will post earnings per share of ($2.75) for the year, up from their prior forecast of ($2.82). HC Wainwright has a "Buy" rating and a $12.00 price objective on the stock. The consensus estimate for Sutro Biopharma's current full-year earnings is ($2.89) per share. HC Wainwright also issued estimates for Sutro Biopharma's Q4 2024 earnings at ($0.68) EPS, Q1 2025 earnings at ($0.82) EPS, Q3 2025 earnings at ($0.91) EPS, FY2025 earnings at ($3.57) EPS, FY2026 earnings at ($3.52) EPS, FY2027 earnings at ($3.47) EPS and FY2028 earnings at ($3.03) EPS.

Other equities analysts have also issued reports about the company. Piper Sandler reaffirmed an "overweight" rating and issued a $11.00 price target on shares of Sutro Biopharma in a report on Friday, October 11th. Truist Financial dropped their price objective on shares of Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 16th. Finally, JMP Securities reissued a "market outperform" rating and set a $17.00 price objective on shares of Sutro Biopharma in a report on Monday, September 16th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $12.14.

Sutro Biopharma Price Performance

Shares of STRO traded down $0.05 during trading hours on Wednesday, hitting $2.65. The company's stock had a trading volume of 425,826 shares, compared to its average volume of 815,618. The business has a 50 day simple moving average of $3.68 and a two-hundred day simple moving average of $3.82. The company has a market cap of $218.52 million, a price-to-earnings ratio of -1.68 and a beta of 1.17. Sutro Biopharma has a 52-week low of $2.13 and a 52-week high of $6.13.

Institutional Trading of Sutro Biopharma

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Sutro Biopharma by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company's stock valued at $17,079,000 after purchasing an additional 132,790 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Sutro Biopharma by 30.8% in the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company's stock worth $4,613,000 after buying an additional 370,705 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Sutro Biopharma by 691.5% during the second quarter. AQR Capital Management LLC now owns 283,516 shares of the company's stock valued at $831,000 after acquiring an additional 247,694 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Sutro Biopharma by 48.1% in the 2nd quarter. Renaissance Technologies LLC now owns 719,497 shares of the company's stock worth $2,108,000 after acquiring an additional 233,700 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Sutro Biopharma by 1,606.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company's stock valued at $13,032,000 after acquiring an additional 4,186,938 shares in the last quarter. 96.99% of the stock is owned by institutional investors.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.