Analysts Issue Forecasts for Sutro Biopharma FY2024 Earnings

Sutro Biopharma, Inc. (NASDAQ:STRO) – Investment analysts at Wedbush lifted their FY2024 earnings per share estimates for Sutro Biopharma in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst D. Nierengarten now forecasts 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 topic of several other reports. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research note on Monday. Piper Sandler restated an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a research note on Friday, October 11th. Truist Financial lowered their target price 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, September 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $12.14.

Sutro Biopharma Price Performance

Shares of STRO opened at $2.75 on Monday. The firm has a market cap of $226.76 million, a PE ratio of -1.71 and a beta of 1.17. The stock’s fifty day moving average price is $3.71 and its two-hundred day moving average price is $3.82. Sutro Biopharma has a 1 year low of $2.13 and a 1 year high of $6.13.

Institutional Trading of Sutro Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in Sutro Biopharma in the 3rd quarter worth about $28,000. ProShare Advisors LLC increased its stake in Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after acquiring an additional 5,373 shares during the last quarter. Intech Investment Management LLC bought a new position in Sutro Biopharma in the 3rd quarter worth about $91,000. Lazard Asset Management LLC bought a new position in Sutro Biopharma in the 1st quarter worth about $92,000. Finally, The Manufacturers Life Insurance Company increased its stake in Sutro Biopharma by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after acquiring an additional 7,082 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

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.