Q1 2024 EPS Estimates for Sutro Biopharma, Inc. (NASDAQ:STRO) Cut by Wedbush

Sutro Biopharma, Inc. (NASDAQ:STRO) – Stock analysts at Wedbush decreased their Q1 2024 earnings estimates for Sutro Biopharma in a research report issued to clients and investors on Tuesday, March 26th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($0.93) per share for the quarter, down from their previous 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.

Several other research analysts also recently commented on the company. HC Wainwright decreased their price objective on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday. Oppenheimer restated an “outperform” rating and set a $10.00 price objective on shares of Sutro Biopharma in a research report on Wednesday. Finally, JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a research note on Tuesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $13.71.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $4.93 on Thursday. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.11. The business’s fifty day moving average price is $4.47 and its 200-day moving average price is $3.77.

Insider Activity

In other news, insider Nicki Vasquez sold 12,185 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $5.00, for a total value of $60,925.00. Following the sale, the insider now directly owns 12,803 shares of the company’s stock, valued at approximately $64,015. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Sutro Biopharma

Several institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its position in shares of Sutro Biopharma by 331.7% in the fourth quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock valued at $46,000 after purchasing an additional 4,372 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Sutro Biopharma in the first quarter worth approximately $56,000. Nisa Investment Advisors LLC increased its position in shares of Sutro Biopharma by 14,125.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after purchasing an additional 8,758 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Sutro Biopharma during the second quarter worth approximately $46,000. Finally, Quantbot Technologies LP raised its stake in Sutro Biopharma by 117.1% in the 1st quarter. Quantbot Technologies LP now owns 8,900 shares of the company’s stock valued at $73,000 after purchasing an additional 4,800 shares during the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

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.