Brokers Set Expectations for Sutro Biopharma FY2024 Earnings

Sutro Biopharma, Inc. (NASDAQ:STRO) – Investment analysts at HC Wainwright boosted their FY2024 earnings estimates for shares of Sutro Biopharma in a report released on Monday, November 18th. HC Wainwright analyst A. Fein now expects that the company will post earnings of ($2.75) per share for the year, up from their previous 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 ($2.92) 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.

A number of other equities analysts have also commented on STRO. Piper Sandler restated an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. Truist Financial decreased their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $12.14.

Sutro Biopharma Trading Down 5.2 %

Shares of STRO opened at $2.53 on Wednesday. Sutro Biopharma has a 12 month low of $2.13 and a 12 month high of $6.13. The firm’s 50 day moving average is $3.64 and its 200-day moving average is $3.81. The stock has a market capitalization of $208.62 million, a PE ratio of -1.57 and a beta of 1.17.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STRO. Russell Investments Group Ltd. raised its position in Sutro Biopharma by 192.9% during the 1st quarter. Russell Investments Group Ltd. now owns 111,955 shares of the company’s stock worth $633,000 after purchasing an additional 73,731 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Sutro Biopharma by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after buying an additional 132,790 shares during the period. Lazard Asset Management LLC bought a new position in shares of Sutro Biopharma during the first quarter worth about $92,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after acquiring an additional 3,578 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in Sutro Biopharma by 56.5% in the first quarter. Public Employees Retirement System of Ohio now owns 96,657 shares of the company’s stock valued at $546,000 after acquiring an additional 34,879 shares during the last quarter. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

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.