Sutro Biopharma, Inc. (NASDAQ:STRO) Expected to Post Q1 2024 Earnings of ($0.73) Per Share

Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) - Equities researchers at Wedbush lifted their Q1 2024 earnings estimates for Sutro Biopharma in a research report issued to clients and investors on Tuesday, April 2nd. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.73) per share for the quarter, up from their previous forecast of ($0.93). Wedbush currently has a "Outperform" rating and a $8.00 target price on the stock. The consensus estimate for Sutro Biopharma's current full-year earnings is ($3.59) per share. Wedbush also issued estimates for Sutro Biopharma's Q2 2024 earnings at ($0.10) EPS, Q3 2024 earnings at ($0.83) EPS, Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($2.37) EPS, Q1 2025 earnings at ($0.82) EPS, Q2 2025 earnings at ($0.64) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at ($0.68) EPS, FY2025 earnings at ($2.75) EPS, FY2026 earnings at ($2.51) EPS, FY2027 earnings at ($1.48) EPS and FY2028 earnings at ($0.16) EPS.

Several other brokerages have also issued reports on STRO. Truist Financial cut their target price on shares of Sutro Biopharma from $25.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday. JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Wednesday. HC Wainwright dropped their price objective on shares of Sutro Biopharma from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, March 26th. Oppenheimer reaffirmed an "outperform" rating and issued a $10.00 price objective on shares of Sutro Biopharma in a research note on Wednesday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $11.00 price objective (down from $12.00) on shares of Sutro Biopharma in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $12.57.

Sutro Biopharma Trading Down 0.8 %

NASDAQ STRO traded down $0.04 on Friday, hitting $4.88. 776,024 shares of the company were exchanged, compared to its average volume of 1,019,316. The company has a market cap of $304.71 million, a PE ratio of -2.74 and a beta of 0.95. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.13. The stock has a fifty day moving average of $4.57 and a 200-day moving average of $3.82.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Sutro Biopharma by 19.6% in the 2nd quarter. BlackRock Inc. now owns 6,005,557 shares of the company's stock worth $27,926,000 after acquiring an additional 984,734 shares during the last quarter. Suvretta Capital Management LLC lifted its holdings in shares of Sutro Biopharma by 3.4% in the 2nd quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company's stock worth $27,359,000 after acquiring an additional 194,607 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Sutro Biopharma by 1,275.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company's stock worth $10,775,000 after acquiring an additional 2,879,412 shares during the last quarter. State Street Corp lifted its holdings in shares of Sutro Biopharma by 57.9% in the 1st quarter. State Street Corp now owns 2,922,712 shares of the company's stock worth $13,503,000 after acquiring an additional 1,071,427 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Sutro Biopharma by 0.7% in 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 last quarter. 96.99% of the stock is currently owned by institutional investors.

Insider Activity at Sutro Biopharma

In related news, insider Nicki Vasquez sold 12,185 shares of the business's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $5.00, for a total transaction of $60,925.00. Following the completion of the transaction, the insider now owns 12,803 shares of the company's stock, valued at $64,015. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by corporate insiders.

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.