Sutro Biopharma, Inc. (NASDAQ:STRO – Get Rating) – Wedbush lifted their Q2 2022 EPS estimates for Sutro Biopharma in a research note issued to investors on Tuesday, May 10th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($0.79) for the quarter, up from their prior forecast of ($0.81). Wedbush also issued estimates for Sutro Biopharma’s Q3 2022 earnings at ($0.84) EPS, Q4 2022 earnings at ($0.62) EPS, FY2022 earnings at ($3.04) EPS, Q1 2023 earnings at ($0.64) EPS, Q2 2023 earnings at ($0.66) EPS, Q3 2023 earnings at ($0.68) EPS, Q4 2023 earnings at ($0.61) EPS, FY2023 earnings at ($2.58) EPS, FY2024 earnings at ($2.63) EPS and FY2025 earnings at ($2.83) EPS.
Several other brokerages also recently commented on STRO. JMP Securities reiterated a “buy” rating and set a $20.00 target price on shares of Sutro Biopharma in a research note on Monday, April 11th. Zacks Investment Research raised Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, March 3rd. Finally, HC Wainwright dropped their price target on Sutro Biopharma from $35.00 to $30.00 in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sutro Biopharma presently has a consensus rating of “Buy” and an average price target of $25.00.
Sutro Biopharma (NASDAQ:STRO – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.08). Sutro Biopharma had a negative net margin of 215.16% and a negative return on equity of 42.97%.
In related news, CEO William J. Newell acquired 10,000 shares of the company’s stock in a transaction on Monday, March 14th. The stock was purchased at an average cost of $7.75 per share, with a total value of $77,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 5.10% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Sutro Biopharma by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,728,829 shares of the company’s stock worth $30,650,000 after buying an additional 28,786 shares in the last quarter. Franklin Resources Inc. grew its position in Sutro Biopharma by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,952,854 shares of the company’s stock worth $55,779,000 after acquiring an additional 104,375 shares during the last quarter. Eventide Asset Management LLC grew its position in Sutro Biopharma by 14.3% during the 4th quarter. Eventide Asset Management LLC now owns 2,708,975 shares of the company’s stock worth $40,310,000 after acquiring an additional 338,000 shares during the last quarter. Suvretta Capital Management LLC grew its position in Sutro Biopharma by 9.1% during the 4th quarter. Suvretta Capital Management LLC now owns 2,437,795 shares of the company’s stock worth $36,274,000 after acquiring an additional 204,100 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Sutro Biopharma by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 2,230,997 shares of the company’s stock worth $18,338,000 after acquiring an additional 113,190 shares during the last quarter. 92.68% of the stock is owned by institutional investors.
Sutro Biopharma Company Profile (Get Rating)
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (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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