Is Sutro Biopharma Inc (NASDAQ: STRO) Stock Ready For A Higher Run In Its Share Price?

In the last trading session, 3.45 million Sutro Biopharma Inc (NASDAQ:STRO) shares changed hands as the company’s beta touched 0.83. With the company’s per share price at $2.69 changed hands at $0.34 or 14.47% during last session, the market valuation stood at $163.96M. STRO’s last price was a discount, traded about -224.16% off its 52-week high of $8.72. The share price had its 52-week low at $2.01, which suggests the last value was 25.28% up since then. When we look at Sutro Biopharma Inc’s average trading volume, we note the 10-day average is 1.06 million shares, with the 3-month average coming to 513.47K.

Analysts gave the Sutro Biopharma Inc (STRO) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.18. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended STRO as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Sutro Biopharma Inc’s EPS for the current quarter is expected to be -$0.78.

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Sutro Biopharma Inc (NASDAQ:STRO) trade information

Instantly STRO was in green as seen at the end of in last trading. With action 29.33%, the performance over the past five days has been green. The jump to weekly highs of 2.77 on Friday, 11/17/23 added 14.47% to the stock’s daily price. The company’s shares are showing year-to-date downside of -66.71%, with the 5-day performance at 29.33% in the green. However, in the 30-day time frame, Sutro Biopharma Inc (NASDAQ:STRO) is -18.24% down. Looking at the short shares, we see there were 2.37 million shares sold at short interest cover period of 3.54 days.

The consensus price target for the stock as assigned by Wall Street analysts is $15.80, meaning bulls need an upside of 82.97% from its current market value. According to analyst projections, STRO’s forecast low is $8.00 with $26.00 as the target high. To hit the forecast high, the stock’s price needs a -866.54% plunge from its current level, while the stock would need to soar -197.4% for it to hit the projected low.

Sutro Biopharma Inc (STRO) estimates and forecasts

Data shows that the Sutro Biopharma Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -50.28% over the past 6 months, a -32.34% in annual growth rate that is considerably lower than the industry average of 14.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Sutro Biopharma Inc will fall -14.70%, while the growth in revenue is estimated to hit -1.20% for the next quarter. Year-over-year growth is forecast to reach -22.80% down from the last financial year.

Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $12.41 million. 6 analysts are of the opinion that Sutro Biopharma Inc’s revenue for the quarter ending Mar 2024 will be $11.98 million. The company’s revenue for the corresponding quarters a year ago was $8.63 million and $12.67 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 43.80%. The estimates for the next quarter sales put growth at -5.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -22.21%. The 2023 estimates are for Sutro Biopharma Inc earnings to decrease by -31.74%.

STRO Dividends

Sutro Biopharma Inc is expected to release its next quarterly earnings report on November 13.

Sutro Biopharma Inc (NASDAQ:STRO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.99% of Sutro Biopharma Inc shares while 94.14% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 95.09%. There are 94.14% institutions holding the Sutro Biopharma Inc stock share, with Blackrock Inc. the top institutional holder. As of Sep 29, 2023, the company held 9.82% of the shares, roughly 5.99 million STRO shares worth $16.1 million.

Suvretta Capital Management, LLC holds the second largest percentage of outstanding shares, with 9.65% or 5.88 million shares worth $15.83 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 1.71 million shares estimated at $4.6 million under it, the former controlled 2.80% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.23% of the shares, roughly 1.36 million shares worth around $3.66 million.

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