Q1 2024 EPS Estimates for Sutro Biopharma, Inc. (NASDAQ:STRO) Cut by HC Wainwright

Sutro Biopharma, Inc. (NASDAQ:STRO) – Stock analysts at HC Wainwright cut their Q1 2024 earnings per share estimates for shares of Sutro Biopharma in a research report issued to clients and investors on Tuesday, March 26th. HC Wainwright analyst A. Fein now forecasts that the company will post earnings of ($0.95) per share for the quarter, down from their prior estimate of ($0.78). 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 ($3.23) per share. HC Wainwright also issued estimates for Sutro Biopharma’s Q2 2024 earnings at ($0.97) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($4.12) EPS, FY2025 earnings at ($3.73) EPS, FY2026 earnings at ($3.64) EPS, FY2027 earnings at ($3.12) EPS and FY2028 earnings at ($1.87) EPS.

Several other research analysts have also recently issued reports on STRO. Wedbush decreased their price objective on shares of Sutro Biopharma from $12.00 to $8.00 and set an “outperform” rating for the company in a report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and set a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Tuesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $13.71.

Sutro Biopharma Stock Up 17.9 %

STRO stock opened at $4.93 on Thursday. The company has a 50-day simple moving average of $4.47 and a 200 day simple moving average of $3.77. The company has a market capitalization of $307.83 million, a P/E ratio of -2.77 and a beta of 0.95. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. raised its position in Sutro Biopharma by 1,275.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after acquiring an additional 2,879,412 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Sutro Biopharma by 18.2% during the 3rd quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock worth $2,684,000 after acquiring an additional 119,399 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Sutro Biopharma by 8.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock valued at $1,281,000 after acquiring an additional 28,160 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Sutro Biopharma by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock worth $154,000 after purchasing an additional 9,092 shares during the last quarter. Finally, Suvretta Capital Management LLC boosted its position in Sutro Biopharma by 3.4% during the second quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company’s stock worth $27,359,000 after purchasing an additional 194,607 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Insider Activity

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $5.00, for a total value of $60,925.00. Following the completion of the sale, the insider now owns 12,803 shares in the company, valued at approximately $64,015. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.90% of the stock is currently owned by corporate insiders.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.