HC Wainwright Analysts Raise Earnings Estimates for Sutro Biopharma, Inc. (NASDAQ:STRO)

Sutro Biopharma, Inc. (NASDAQ:STRO) – Equities research analysts at HC Wainwright boosted their Q3 2024 earnings estimates for Sutro Biopharma in a research note issued to investors on Wednesday, August 14th. HC Wainwright analyst A. Fein now expects that the company will post earnings of ($0.65) per share for the quarter, up from their prior forecast of ($1.01). 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 ($3.50) per share. HC Wainwright also issued estimates for Sutro Biopharma’s Q4 2024 earnings at ($0.69) EPS, FY2024 earnings at ($2.82) EPS, FY2025 earnings at ($2.78) EPS, FY2026 earnings at ($2.76) EPS, FY2027 earnings at ($2.33) EPS and FY2028 earnings at ($1.37) EPS.

Several other analysts have also recently commented on STRO. Oppenheimer reissued an “outperform” rating and set a $10.00 price objective on shares of Sutro Biopharma in a report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, May 14th. Truist Financial reduced their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday. Finally, Bank of America started coverage on Sutro Biopharma in a report on Wednesday, May 8th. They issued a “buy” rating and a $12.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.13.

Sutro Biopharma Price Performance

Shares of STRO stock opened at $4.21 on Friday. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13. The business’s fifty day moving average price is $3.54 and its 200 day moving average price is $4.04. The firm has a market capitalization of $345.05 million, a PE ratio of -2.24 and a beta of 1.22.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.20. The business had revenue of $25.71 million during the quarter, compared to the consensus estimate of $26.28 million. Sutro Biopharma had a negative return on equity of 108.90% and a negative net margin of 73.48%.

Institutional Investors Weigh In On Sutro Biopharma

A number of large investors have recently bought and sold shares of STRO. Nisa Investment Advisors LLC grew its holdings in shares of Sutro Biopharma by 14,125.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after buying an additional 8,758 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Sutro Biopharma in the fourth quarter valued at $60,000. Lazard Asset Management LLC acquired a new position in Sutro Biopharma in the first quarter valued at $92,000. Finally, The Manufacturers Life Insurance Company lifted its position in Sutro Biopharma by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after buying an additional 7,082 shares during the period. 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.