HC Wainwright Raises Earnings Estimates for Sutro Biopharma

Sutro Biopharma, Inc. (NASDAQ:STRO) – HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Sutro Biopharma in a research note issued on Monday, November 18th. HC Wainwright analyst A. Fein now forecasts that the company will post earnings of ($2.75) per share for the year, up from their prior estimate of ($2.82). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Sutro Biopharma’s current full-year earnings is ($2.89) 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.

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

Sutro Biopharma Trading Down 1.1 %

Sutro Biopharma stock opened at $2.67 on Wednesday. Sutro Biopharma has a 12-month low of $2.13 and a 12-month high of $6.13. The stock has a market cap of $220.17 million, a P/E ratio of -1.66 and a beta of 1.17. The company has a fifty day simple moving average of $3.64 and a 200-day simple moving average of $3.81.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STRO. Point72 Asset Management L.P. grew its holdings in Sutro Biopharma by 1,606.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock valued at $13,032,000 after buying an additional 4,186,938 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Sutro Biopharma in the 3rd quarter worth $2,852,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Sutro Biopharma by 214.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock valued at $6,043,000 after purchasing an additional 729,239 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sutro Biopharma during the third quarter worth approximately $1,512,000. Finally, Acadian Asset Management LLC boosted its position in Sutro Biopharma by 30.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after purchasing an additional 370,705 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

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.