Q1 2024 Earnings Estimate for Sutro Biopharma, Inc. Issued By Wedbush (NASDAQ:STRO)

Sutro Biopharma, Inc. (NASDAQ:STRO) – Equities research analysts at Wedbush lowered their Q1 2024 earnings per share (EPS) estimates for shares of Sutro Biopharma in a research note issued to investors on Tuesday, March 26th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($0.93) per share for the quarter, down from their prior estimate of ($0.80). Wedbush has a “Outperform” rating and a $8.00 price objective on the stock. The consensus estimate for Sutro Biopharma’s current full-year earnings is ($3.23) per share. Wedbush also issued estimates for Sutro Biopharma’s Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($1.17) EPS, Q4 2024 earnings at ($0.81) EPS, FY2024 earnings at ($3.79) EPS, FY2025 earnings at ($3.19) EPS, FY2026 earnings at ($2.94) EPS, FY2027 earnings at ($1.82) EPS and FY2028 earnings at ($0.50) EPS.

Other equities research analysts have also issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a research report on Tuesday. HC Wainwright decreased their price objective on shares of Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $10.00 target price on shares of Sutro Biopharma in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.71.

Sutro Biopharma Stock Up 17.9 %

Shares of NASDAQ:STRO opened at $4.93 on Thursday. The business’s 50 day moving average is $4.47 and its 200 day moving average is $3.77. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $6.11.

Institutional Trading of Sutro Biopharma

Institutional investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. raised its position in 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 buying an additional 2,879,412 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Sutro Biopharma by 18.2% in the third quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock worth $2,684,000 after acquiring an additional 119,399 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Sutro Biopharma by 8.3% during the third quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock valued at $1,281,000 after purchasing an additional 28,160 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Sutro Biopharma by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock valued at $154,000 after purchasing an additional 9,092 shares during the period. Finally, Suvretta Capital Management LLC boosted its holdings in Sutro Biopharma by 3.4% in the second quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company’s stock worth $27,359,000 after purchasing an additional 194,607 shares during the last quarter. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sutro Biopharma

In related news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction dated 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 directly owns 12,803 shares of the company’s stock, valued at approximately $64,015. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 6.90% of the stock is currently 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.