FY2024 EPS Estimates for Sutro Biopharma Lifted by Analyst

Sutro Biopharma, Inc. (NASDAQ:STRO) – Equities research analysts at Wedbush upped their FY2024 earnings estimates for shares of Sutro Biopharma in a research note issued on Wednesday, November 13th. Wedbush analyst D. Nierengarten now expects that the company will earn ($2.93) per share for the year, up from their prior estimate 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.

Several other equities research analysts have also recently commented on STRO. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a report 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 note on Friday, August 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $12.14.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $2.89 on Monday. Sutro Biopharma has a 1-year low of $2.13 and a 1-year high of $6.13. The firm has a market capitalization of $238.31 million, a P/E ratio of -1.80 and a beta of 1.17. The business’s 50-day simple moving average is $3.74 and its 200-day simple moving average is $3.83.

Institutional Investors Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Sutro Biopharma by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after buying an additional 132,015 shares during the period. Barclays PLC grew its position in shares of Sutro Biopharma by 385.3% during the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock valued at $944,000 after acquiring an additional 216,757 shares during the period. XTX Topco Ltd boosted its holdings in shares of Sutro Biopharma by 222.0% in the third quarter. XTX Topco Ltd now owns 104,200 shares of the company’s stock worth $361,000 after acquiring an additional 71,844 shares during the period. Jane Street Group LLC increased its holdings in Sutro Biopharma by 30.7% during the 3rd quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock worth $374,000 after acquiring an additional 25,416 shares during the period. Finally, State Street Corp raised its stake in 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 purchasing an additional 81,855 shares in the last quarter. Institutional investors and hedge funds 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.