Q3 2024 Revenue Estimate for Sutro Biopharma, Inc. Issued by Wedbush (NASDAQ:STRO)

Sutro Biopharma, Inc. (NASDAQ:STRO – Free Report) – Analysts at Wedbush cut their Q3 2024 earnings per share estimates for shares of Sutro Biopharma in a research report issued on Tuesday, August 13th. Wedbush analyst D. Nierengarten now expects that the company will earn ($0.85) per share for the quarter, down from their prior forecast of ($0.80). Wedbush has an “Outperform” rating and a $8.00 price objective on the stock. The consensus estimate for Sutro Biopharma’s current full-year earnings is ($3.50) per share. Wedbush also issued estimates for Sutro Biopharma Q4 2024 Earnings at ($0.79) EPS, FY2024 Earnings at ($3.14) EPS, Q1 2025 Earnings at ($0.90) EPS, for Q2 2025 at ($0.69) EPS at ($0.69) $702 , Q4 2025 Earnings at ($0.74) EPS , FY 2025 Earnings at ($3.00) EPS , Earnings for FY2026 at ($2.84) EPS and FY2027 earnings at ($1.69) EPS.

Sutro Biopharma (NASDAQ:STRO – Get Your Free Report ) last posted its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.20. Sutro Biopharma had a negative net margin of 74.61% and a negative return on equity of 94.18%. The firm had revenue of $25.71 million for the quarter, compared to analyst estimates of $26.28 million.

A number of other equities analysts have also recently commented on the stock. Bank of America began coverage on shares of Sutro Biopharma in a research note on Wednesday, May 8th. They set a “buy” rating and a $12.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $10.00 target price on shares of Sutro Biopharma in a report on Wednesday, May 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a report on Wednesday. Eight research analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $12.50.

Check out our latest review of Sutro Biopharma

Sutro Biopharma trading up 12.5%

Shares of NASDAQ:STRO opened at $4.04 on Friday. Sutro Biopharma has a 52 week low of $2.01 and a 52 week high of $6.13. The company’s 50-day moving average is $3.53, and its two-hundred-day moving average is $4.05. The company has a market cap of $330.43 million, a PE ratio of -2.15 and a beta of 1.22.

Hedge funds influence Sutro Biopharma

Several hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Sutro Biopharma by 14,125.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock valued at $38,000 after purchasing an additional 8,758 shares during the period. ProShare Advisors LLC boosted its stake in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after buying an additional 5,373 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sutro Biopharma in the fourth quarter valued at about $60,000. Lazard Asset Management LLC purchased a new position in shares of Sutro Biopharma in the first quarter worth about $92,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Sutro Biopharma by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after purchasing an additional 7,082 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s shares.

About Sutro Biopharma

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

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