FY2024 EPS Estimates for Sutro Biopharma Lifted by Analyst

Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) - Research analysts at Wedbush raised their FY2024 earnings estimates for shares of Sutro Biopharma in a research report issued on Wednesday, November 13th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($2.93) per share for the year, up from their previous forecast of ($3.14). The consensus estimate for Sutro Biopharma's current full-year earnings is ($2.89) per share. Wedbush also issued estimates for Sutro Biopharma's Q4 2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.92) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.60) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($2.66) EPS, FY2026 earnings at ($2.52) EPS and FY2027 earnings at ($1.56) EPS.

STRO has been the subject of a number of other research reports. JMP Securities reiterated a "market outperform" rating and set a $17.00 target price on shares of Sutro Biopharma in a research report on Monday, September 16th. HC Wainwright reiterated a "buy" rating and set a $12.00 price target on shares of Sutro Biopharma in a research report on Monday. Piper Sandler restated an "overweight" rating and issued a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. Finally, Truist Financial dropped their price objective on Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sutro Biopharma presently has a consensus rating of "Buy" and a consensus target price of $12.14.

Sutro Biopharma Trading Down 4.8 %

NASDAQ STRO traded down $0.14 during trading on Monday, hitting $2.75. 1,169,652 shares of the company traded hands, compared to its average volume of 808,026. The business has a fifty day simple moving average of $3.71 and a 200 day simple moving average of $3.82. The company has a market capitalization of $226.76 million, a P/E ratio of -1.71 and a beta of 1.17. Sutro Biopharma has a 12 month low of $2.13 and a 12 month high of $6.13.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company's stock worth $102,000 after purchasing an additional 3,578 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock worth $48,000 after buying an additional 5,373 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Sutro Biopharma by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 60,858 shares of the company's stock worth $173,000 after acquiring an additional 5,404 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sutro Biopharma by 27.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company's stock worth $97,000 after buying an additional 7,082 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in shares of Sutro Biopharma in the 3rd quarter valued at $28,000. 96.99% of the stock is currently owned by hedge funds and other 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.