HC Wainwright Comments on Sutro Biopharma, Inc.’s Q2 2024 Earnings (NASDAQ:STRO)

Sutro Biopharma, Inc. (NASDAQ:STROFree Report) – Research analysts at HC Wainwright lowered their Q2 2024 earnings estimates for Sutro Biopharma in a report released on Tuesday, May 14th. HC Wainwright analyst A. Fein now forecasts that the company will earn ($0.99) per share for the quarter, down from their prior estimate of ($0.97). HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for Sutro Biopharma’s current full-year earnings is ($3.16) per share. HC Wainwright also issued estimates for Sutro Biopharma’s Q3 2024 earnings at ($1.01) EPS, Q4 2024 earnings at ($1.04) EPS, FY2024 earnings at ($3.99) EPS, FY2025 earnings at ($3.61) EPS, FY2026 earnings at ($3.53) EPS, FY2027 earnings at ($2.99) EPS and FY2028 earnings at ($1.76) EPS.

Sutro Biopharma (NASDAQ:STROGet Free Report) last posted its earnings results on Monday, March 25th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $1.24. The firm had revenue of $113.72 million for the quarter, compared to analysts’ expectations of $12.16 million. Sutro Biopharma had a negative return on equity of 87.25% and a negative net margin of 74.61%.

A number of other research analysts have also issued reports on STRO. Piper Sandler reiterated an “overweight” rating and set a $11.00 target price (down previously from $12.00) on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Bank of America assumed coverage on shares of Sutro Biopharma in a report on Wednesday, May 8th. They set a “buy” rating and a $12.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Wedbush restated an “outperform” rating and set a $8.00 price target on shares of Sutro Biopharma in a research report on Tuesday. Finally, Truist Financial lowered their price objective on Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.50.

Check Out Our Latest Report on Sutro Biopharma

Sutro Biopharma Trading Down 9.4 %

Shares of STRO opened at $3.93 on Thursday. The firm has a market cap of $245.39 million, a P/E ratio of -2.09 and a beta of 1.09. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.13. The stock’s 50 day moving average is $4.17 and its two-hundred day moving average is $3.94.

Institutional Trading of Sutro Biopharma

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Sutro Biopharma in the third quarter valued at approximately $113,000. Bank of New York Mellon Corp increased its stake in shares of Sutro Biopharma by 3.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 261,451 shares of the company’s stock worth $907,000 after acquiring an additional 8,633 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Sutro Biopharma by 8.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock worth $1,281,000 after acquiring an additional 28,160 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Sutro Biopharma by 20.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 68,324 shares of the company’s stock worth $237,000 after acquiring an additional 11,800 shares during the period. Finally, Barclays PLC boosted its position in shares of Sutro Biopharma by 40.7% during the 3rd quarter. Barclays PLC now owns 62,579 shares of the company’s stock valued at $217,000 after acquiring an additional 18,093 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

About Sutro Biopharma

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Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.

See Also

Earnings History and Estimates for Sutro Biopharma (NASDAQ:STRO)

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