Sutro Biopharma, Inc. (NASDAQ:STRO - Get Rating) - Investment analysts at Wedbush increased their Q2 2022 earnings per share (EPS) estimates for shares of Sutro Biopharma in a note issued to investors on Tuesday, May 10th. Wedbush analyst D. Nierengarten now expects that the company will earn ($0.79) per share for the quarter, up from their prior forecast of ($0.81). Wedbush also issued estimates for Sutro Biopharma's Q3 2022 earnings at ($0.84) EPS, Q4 2022 earnings at ($0.62) EPS, FY2022 earnings at ($3.04) EPS, Q1 2023 earnings at ($0.64) EPS, Q2 2023 earnings at ($0.66) EPS, Q3 2023 earnings at ($0.68) EPS, Q4 2023 earnings at ($0.61) EPS, FY2023 earnings at ($2.58) EPS, FY2024 earnings at ($2.63) EPS and FY2025 earnings at ($2.83) EPS. Sutro Biopharma (NASDAQ:STRO - Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.08). Sutro Biopharma had a negative net margin of 215.16% and a negative return on equity of 42.97%.
A number of other analysts also recently issued reports on STRO. JMP Securities reiterated a "buy" rating and issued a $20.00 price target on shares of Sutro Biopharma in a report on Monday, April 11th. Zacks Investment Research upgraded shares of Sutro Biopharma from a "sell" rating to a "hold" rating in a report on Thursday, March 3rd. Finally, HC Wainwright reduced their price target on shares of Sutro Biopharma from $35.00 to $30.00 in a report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sutro Biopharma has an average rating of "Buy" and a consensus price target of $25.00.
Shares of NASDAQ STRO opened at $4.60 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.24 and a current ratio of 5.90. The company has a market cap of $215.90 million, a P/E ratio of -1.96 and a beta of 1.11. The firm's fifty day moving average is $7.53 and its two-hundred day moving average is $11.58. Sutro Biopharma has a 52-week low of $4.43 and a 52-week high of $23.70.
In other Sutro Biopharma news, CEO William J. Newell bought 10,000 shares of Sutro Biopharma stock in a transaction dated Monday, March 14th. The shares were purchased at an average cost of $7.75 per share, for a total transaction of $77,500.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.10% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Sutro Biopharma by 9.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 119,667 shares of the company's stock worth $984,000 after purchasing an additional 10,118 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Sutro Biopharma in the 1st quarter worth approximately $56,000. Ergoteles LLC raised its stake in shares of Sutro Biopharma by 60.7% during the 1st quarter. Ergoteles LLC now owns 25,738 shares of the company's stock worth $212,000 after acquiring an additional 9,723 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sutro Biopharma by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 2,230,997 shares of the company's stock worth $18,338,000 after acquiring an additional 113,190 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sutro Biopharma by 23.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 446,955 shares of the company's stock worth $3,674,000 after acquiring an additional 86,190 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.
About Sutro Biopharma (Get Rating)
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Sutro Biopharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sutro Biopharma wasn't on the list.
While Sutro Biopharma currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here