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

Sutro Biopharma, Inc. (NASDAQ:STRO) – Stock analysts at HC Wainwright dropped their Q1 2024 earnings per share (EPS) estimates for Sutro Biopharma in a note issued to 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 forecast of ($0.78). HC Wainwright has a “Buy” rating and a $12.00 price target 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.

A number of other research analysts also recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday. Wedbush lowered their target price on Sutro Biopharma from $12.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $13.71.

Sutro Biopharma Stock Up 14.6 %

STRO stock opened at $5.65 on Thursday. The company has a market cap of $352.79 million, a PE ratio of -3.17 and a beta of 0.95. The business has a 50-day simple moving average of $4.50 and a 200 day simple moving average of $3.79. Sutro Biopharma has a 52 week low of $2.01 and a 52 week high of $6.13.

Insiders Place Their Bets

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 stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the transaction, the insider now directly owns 12,803 shares in the company, valued at approximately $64,015. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Sutro Biopharma

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Sutro Biopharma by 19.6% in the 2nd quarter. BlackRock Inc. now owns 6,005,557 shares of the company’s stock valued at $27,926,000 after buying an additional 984,734 shares during the last quarter. Suvretta Capital Management LLC increased its position in shares of Sutro Biopharma by 3.4% during the 2nd quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company’s stock valued at $27,359,000 after purchasing an additional 194,607 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Sutro Biopharma by 1,275.7% during the 3rd 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 purchasing an additional 2,879,412 shares during the last quarter. State Street Corp increased its position in shares of Sutro Biopharma by 57.9% during the 1st quarter. State Street Corp now owns 2,922,712 shares of the company’s stock valued at $13,503,000 after purchasing an additional 1,071,427 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Sutro Biopharma by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,890,000 shares of the company’s stock worth $12,398,000 after acquiring an additional 21,238 shares during the period. 96.99% of the stock is currently owned by institutional investors.

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.