FY2024 EPS Estimates for Sutro Biopharma Lifted by Analyst

Sutro Biopharma, Inc. (NASDAQ:STRO) – Research analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of Sutro Biopharma in a report released 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 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.

Other equities research analysts also recently issued research reports about the company. JMP Securities reissued a “market outperform” rating and issued 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 Monday. Truist Financial dropped their target price on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report 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 MarketBeat, Sutro Biopharma currently has an average rating of “Buy” and an average target price of $12.14.

Sutro Biopharma Price Performance

Sutro Biopharma stock opened at $2.70 on Monday. The stock’s 50 day moving average price is $3.68 and its 200 day moving average price is $3.82. Sutro Biopharma has a 1-year low of $2.13 and a 1-year high of $6.13. The company has a market cap of $222.64 million, a PE ratio of -1.68 and a beta of 1.17.

Institutional Investors Weigh In On Sutro Biopharma

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in shares of Sutro Biopharma by 30.5% in the first quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company’s stock valued at $6,803,000 after acquiring an additional 281,224 shares in the last quarter. Vanguard Group Inc. raised 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 purchasing an additional 132,790 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Sutro Biopharma by 691.5% in the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock valued at $831,000 after purchasing an additional 247,694 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sutro Biopharma by 48.1% during the 2nd quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock worth $2,108,000 after purchasing an additional 233,700 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of 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 worth $13,032,000 after buying an additional 4,186,938 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.