Sutro Biopharma (NASDAQ:STRO) Rating Reiterated by JMP Securities

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a research note issued on Monday, Benzinga reports. They currently have a $17.00 target price on the stock. JMP Securities’ target price points to a potential upside of 323.94% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Truist Financial decreased their target price on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 16th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a report on Monday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Sutro Biopharma has an average rating of “Buy” and an average price target of $12.13.

Sutro Biopharma Stock Up 8.4 %

STRO opened at $4.01 on Monday. The company’s 50-day moving average price is $4.08 and its 200 day moving average price is $4.01. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.13. The firm has a market cap of $328.66 million, a price-to-earnings ratio of -2.13 and a beta of 1.18.

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

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds have recently bought and sold shares of STRO. Opaleye Management Inc. purchased a new stake in Sutro Biopharma in the 4th quarter worth approximately $1,293,000. Acadian Asset Management LLC boosted its position in Sutro Biopharma by 30.5% during the first quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company’s stock valued at $6,803,000 after purchasing an additional 281,224 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Sutro Biopharma in the first quarter valued at about $714,000. Kynam Capital Management LP grew its stake in Sutro Biopharma by 28.9% in the fourth quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock valued at $8,587,000 after purchasing an additional 449,052 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Sutro Biopharma by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock worth $17,079,000 after purchasing an additional 132,790 shares during the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Company Profile

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.