Sutro Biopharma (NASDAQ:STRO) Rating Reiterated by HC Wainwright

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 199.25% from the stock’s current price.

Separately, Truist Financial dropped their target price on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.13.

Sutro Biopharma Trading Up 8.4 %

Shares of STRO opened at $4.01 on Monday. The firm’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $4.01. The firm has a market capitalization of $328.66 million, a price-to-earnings ratio of -2.13 and a beta of 1.18. Sutro Biopharma has a twelve month low of $2.01 and a twelve month high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.20. The business had revenue of $25.71 million for the quarter, compared to the consensus estimate of $26.28 million. Sutro Biopharma had a negative return on equity of 102.06% and a negative net margin of 73.48%. On average, analysts predict that Sutro Biopharma will post -2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after buying an additional 3,578 shares during the last quarter. ProShare Advisors LLC increased its position in Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after acquiring an additional 5,373 shares during the period. Hsbc Holdings PLC raised its stake in Sutro Biopharma by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock valued at $173,000 after acquiring an additional 5,404 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Sutro Biopharma by 27.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after acquiring an additional 7,082 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Sutro Biopharma during the 4th quarter worth approximately $60,000. 96.99% of the stock is owned by hedge funds and other institutional investors.

About Sutro Biopharma

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