HC Wainwright Brokers Lower Earnings Estimates for Sutro Biopharma, Inc. (NASDAQ:STRO)

Sutro Biopharma, Inc. (NASDAQ:STRO) – Analysts at HC Wainwright lowered their Q1 2024 earnings per share (EPS) estimates for shares of Sutro Biopharma in a note issued to investors on Tuesday, March 26th. HC Wainwright analyst A. Fein now expects that the company will post earnings of ($0.95) per share for the quarter, down from their prior estimate of ($0.78). HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Sutro Biopharma’s current full-year earnings is ($3.23) per share. HC Wainwright also issued estimates for Sutro Biopharma’s Q2 2024 earnings at ($0.97) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($4.12) EPS, FY2025 earnings at ($3.73) EPS, FY2026 earnings at ($3.64) EPS, FY2027 earnings at ($3.12) EPS and FY2028 earnings at ($1.87) EPS.

A number of other equities research analysts also recently issued reports on STRO. Wedbush cut their price target on Sutro Biopharma from $12.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a research report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $10.00 price target on shares of Sutro Biopharma in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Sutro Biopharma has a consensus rating of “Buy” and a consensus target price of $13.71.

Sutro Biopharma Stock Up 17.9 %

Shares of STRO stock opened at $4.93 on Thursday. The firm has a market capitalization of $307.83 million, a PE ratio of -2.77 and a beta of 0.95. The company has a 50 day moving average price of $4.47 and a 200-day moving average price of $3.77. Sutro Biopharma has a 52 week low of $2.01 and a 52 week high of $6.11.

Institutional Trading of Sutro Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. increased its holdings in shares of Sutro Biopharma by 1,275.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock worth $10,775,000 after purchasing an additional 2,879,412 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Sutro Biopharma by 18.2% during the 3rd quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock valued at $2,684,000 after acquiring an additional 119,399 shares during the last quarter. Panagora Asset Management Inc. increased its position in Sutro Biopharma by 8.3% in the third quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock worth $1,281,000 after purchasing an additional 28,160 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Sutro Biopharma by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock worth $154,000 after purchasing an additional 9,092 shares during the period. Finally, Suvretta Capital Management LLC increased its position in shares of Sutro Biopharma by 3.4% during the 2nd quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company’s stock valued at $27,359,000 after purchasing an additional 194,607 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

Insider Transactions at Sutro Biopharma

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $5.00, for a total value of $60,925.00. Following the completion of the transaction, the insider now directly owns 12,803 shares in the company, valued at approximately $64,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.90% of the company’s stock.

Sutro Biopharma Company Profile

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.