Are Sutro Biopharma Inc (NASDAQ: STRO) Analysts Predicting A Spike?

Sutro Biopharma Inc (NASDAQ:STRO) shares, rose in value, without any change to the previous day’s close as strong demand from buyers drove the stock to $5.09.

Actively observing the price movement in the last trading, the stock closed the session at $5.09. Referring to stock’s 52-week performance, its high was $6.13, and the low was $2.01. On the whole, STRO has fluctuated by 6.26% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.91, which is expected to increase to -$0.03 for fiscal year -$3.3 and then to about -$3.26 by fiscal year 2025. Data indicates that the EPS growth is expected to be -85.40% in 2025, while the next year’s EPS growth is forecast to be 1.20%.

Analysts have estimated the company’s revenue for the quarter at $11.92 million, with a low estimate of $5 million and a high estimate of $24.65 million. According to the average forecast, sales growth in current quarter could jump down -5.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $49.49 million, representing a decrease of -67.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that STRO’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of STRO currently trading nearly 17.69% and 12.19% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.40, while the 7-day volatility ratio is showing 17.92% which for the 30-day chart, stands at 10.92%. Furthermore, Sutro Biopharma Inc (STRO)’s beta value is 0.99, and its average true range (ATR) is 0.52.

A comparison of Sutro Biopharma Inc (STRO) with its peers suggests the former has fared considerably weaker in the market. STRO showed an intraday change of 0.00% in last session, and over the past year, it grew by 10.17%%.

Data on historical trading for Sutro Biopharma Inc (NASDAQ:STRO) indicates that the trading volumes over the past 10 days have averaged 1.87 million and over the past 3 months, they’ve averaged 982.17K. According to company’s latest data on outstanding shares, there are 61.01 million shares outstanding.

Nearly 4.17% of Sutro Biopharma Inc’s shares belong to company insiders and institutional investors own 89.81% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.32 million shares as on Mar 15, 2024, resulting in a short ratio of 2.68. According to the data, the short interest in Sutro Biopharma Inc (STRO) stood at 3.81% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.67 million. The stock has risen by 18.65% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the STRO stock heading into the next quarter.