Sutro Biopharma FY2024 EPS Forecast Increased by Wedbush

Sutro Biopharma, Inc. (NASDAQ:STRO) – Analysts at Wedbush boosted their FY2024 earnings per share estimates for Sutro Biopharma in a research report issued on Wednesday, November 13th. Wedbush analyst D. Nierengarten now expects 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.

A number of other equities analysts have also commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Monday, September 16th. Finally, Truist Financial cut their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $12.14.

Sutro Biopharma Trading Down 16.2 %

STRO stock opened at $2.89 on Monday. The stock has a market cap of $238.31 million, a PE ratio of -1.80 and a beta of 1.17. Sutro Biopharma has a 12 month low of $2.13 and a 12 month high of $6.13. The company has a 50-day moving average price of $3.74 and a 200 day moving average price of $3.83.

Hedge Funds Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. raised its position in Sutro Biopharma by 1,606.1% during the second 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. Vanguard Group Inc. lifted its stake in Sutro Biopharma by 4.6% in the 1st 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sutro Biopharma by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock valued at $6,426,000 after acquiring an additional 132,015 shares during the last quarter. State Street Corp lifted its position in shares of Sutro Biopharma by 5.2% in the third quarter. State Street Corp now owns 1,647,162 shares of the company’s stock valued at $5,699,000 after acquiring an additional 81,855 shares in the last quarter. Finally, Acadian Asset Management LLC boosted 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 acquiring an additional 370,705 shares during the last quarter. Institutional investors and hedge funds 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.