Brokers Set Expectations for Sutro Biopharma FY2024 Earnings

Sutro Biopharma, Inc. (NASDAQ:STRO) – Investment analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of Sutro Biopharma in a research report issued on Monday, November 18th. HC Wainwright analyst A. Fein now anticipates that the company will earn ($2.75) per share for the year, up from their previous forecast of ($2.82). 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 ($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 analysts also recently weighed in on STRO. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a research report on Monday, September 16th. Truist Financial cut their target price on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $12.14.

Sutro Biopharma Stock Down 1.8 %

STRO opened at $2.70 on Wednesday. The company has a market cap of $222.64 million, a P/E ratio of -1.68 and a beta of 1.17. The firm’s 50-day moving average price is $3.68 and its 200-day moving average price is $3.82. Sutro Biopharma has a 52-week low of $2.13 and a 52-week high of $6.13.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds have recently added to or reduced their stakes in STRO. Barclays PLC lifted its holdings in shares of Sutro Biopharma by 385.3% in the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock valued at $944,000 after buying an additional 216,757 shares during the period. Geode Capital Management LLC raised its position in Sutro Biopharma by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock valued at $6,426,000 after acquiring an additional 132,015 shares in the last quarter. XTX Topco Ltd lifted its holdings in Sutro Biopharma by 222.0% in the third quarter. XTX Topco Ltd now owns 104,200 shares of the company’s stock valued at $361,000 after acquiring an additional 71,844 shares during the period. Jane Street Group LLC boosted its position in Sutro Biopharma by 30.7% in the 3rd quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock worth $374,000 after purchasing an additional 25,416 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Sutro Biopharma by 5.2% during the 3rd quarter. State Street Corp now owns 1,647,162 shares of the company’s stock worth $5,699,000 after purchasing an additional 81,855 shares during the period. 96.99% of the stock is owned by hedge funds and other institutional investors.

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.