Why Sutro Biopharma Inc (NASDAQ: STRO) Stock Should Not Be Discarded By Investors In 2024

In the last trading session, 2.74 million shares of the Sutro Biopharma Inc (NASDAQ:STRO) were traded, and its beta was 0.98. Most recently the company’s share price was $5.09, and it changed around -$0.23 or -4.41% from the last close, which brings the market valuation of the company to $317.82M. STRO currently trades at a discount to its 52-week high of $6.13, offering almost -20.43% off that amount. The share price’s 52-week low was $2.01, which indicates that the current value has risen by an impressive 60.51% since then. We note from Sutro Biopharma Inc’s average daily trading volume that its 10-day average is 1.72 million shares, with the 3-month average coming to 959.61K.

Sutro Biopharma Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.22. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended STRO as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Sutro Biopharma Inc is expected to report earnings per share of -$0.95 for the current quarter.

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Sutro Biopharma Inc (NASDAQ:STRO) trade information

Instantly STRO has showed a red trend with a performance of -4.41% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 18.65% year-to-date, but still up 55.66% over the last five days. On the other hand, Sutro Biopharma Inc (NASDAQ:STRO) is 2.83% up in the 30-day period. We can see from the shorts that 2.32 million shares have been sold at a short interest cover period of 2.68 day(s).

The consensus price target as assigned by Wall Street analysts is $18, which translates to bulls needing to increase their stock price by 71.72% from its current value. Analyst projections state that STRO is forecast to be at a low of $18 and a high of $18.

Sutro Biopharma Inc (STRO) estimates and forecasts

Sutro Biopharma Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 46.69 percent over the past six months and at a -87.96% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -11.80% in revenue this quarter, and will report a decrease of -48.40% in the next quarter. The year-over-year growth rate is expected to be -70.40%, down from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $10.94 million in revenue for the current quarter. 7 analysts expect Sutro Biopharma Inc to make $11.05 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $12.67 million and $10.41 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -13.70%. Forecasts for the next quarter put sales growth at 6.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 21.96%. Sutro Biopharma Inc earnings are expected to increase by -102.01% in 2024, but the outlook is negative -12.88% per year for the next five years.

STRO Dividends

Sutro Biopharma Inc’s next quarterly earnings report is expected to be released in May.

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

Upon looking at major shareholders, it appears that insiders hold 1.15% of Sutro Biopharma Inc shares, and 95.25% of them are in the hands of institutional investors. The stock currently has a share float of 96.36%. Sutro Biopharma Inc stock is held by 164 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 9.93% of the shares, which is about 6.01 million shares worth $27.93 million.

Suvretta Capital Management, LLC, with 9.73% or 5.88 million shares worth $27.36 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 1.71 million shares worth $7.94 million, making up 2.82% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 1.36 million shares worth around $6.45 million, which represents about 2.24% of the total shares outstanding.