Sutro Biopharma, Inc. (NASDAQ:STRO – Free Report) – Equities research analysts at HC Wainwright raised their FY2023 EPS estimates for Sutro Biopharma in a report issued on Tuesday, November 14th. HC Wainwright analyst A. Fein now expects that the company will earn ($2.94) per share for the year, up from their prior forecast of ($2.96). HC Wainwright has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for Sutro Biopharma’s current full-year earnings is ($2.94) per share. HC Wainwright also issued estimates for Sutro Biopharma’s Q4 2023 earnings at ($0.73) EPS, Q1 2024 earnings at ($0.78) EPS, Q3 2024 earnings at ($0.84) EPS, FY2024 earnings at ($3.31) EPS, FY2025 earnings at ($2.62) EPS and FY2026 earnings at ($1.66) EPS.
STRO has been the subject of a number of other research reports. Oppenheimer began coverage on shares of Sutro Biopharma in a report on Thursday, October 5th. They issued an “outperform” rating and a $10.00 price target for the company. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price target on shares of Sutro Biopharma in a report on Wednesday, September 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Sutro Biopharma in a research note on Thursday, November 9th. They issued a “buy” rating and a $12.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, August 14th. Finally, Piper Sandler dropped their price target on shares of Sutro Biopharma from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.
Sutro Biopharma Trading Up 3.8 %
NASDAQ STRO opened at $2.46 on Thursday. The company has a fifty day simple moving average of $3.31 and a two-hundred day simple moving average of $4.31. The stock has a market cap of $148.83 million, a P/E ratio of -0.85 and a beta of 0.90. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $8.72.
Hedge Funds Weigh In On Sutro Biopharma
Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Sutro Biopharma by 331.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock worth $46,000 after purchasing an additional 4,372 shares during the period. Point72 Hong Kong Ltd purchased a new position in Sutro Biopharma during the second quarter worth about $46,000. Diversified Trust Co purchased a new position in Sutro Biopharma during the second quarter worth about $52,000. Tower Research Capital LLC TRC raised its stake in Sutro Biopharma by 342.3% during the third quarter. Tower Research Capital LLC TRC now owns 15,128 shares of the company’s stock worth $52,000 after purchasing an additional 11,708 shares during the period. Finally, Ergoteles LLC purchased a new position in Sutro Biopharma during the second quarter worth about $54,000. 89.40% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Sutro Biopharma
In other news, insider Brunilda Shtylla sold 15,428 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $4.71, for a total value of $72,665.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.90% of the company’s stock.
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.
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