Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Price Target at $12.13

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.13.

STRO has been the subject of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a report on Friday. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Monday, September 16th. Truist Financial lowered their target price on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a research report on Friday.

Sutro Biopharma Price Performance

STRO opened at $3.79 on Wednesday. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $6.13. The stock has a market capitalization of $310.63 million, a PE ratio of -2.07 and a beta of 1.17. The firm’s fifty day moving average price is $3.94 and its 200 day moving average price is $3.94.

Sutro Biopharma (NASDAQ:STRO) last issued 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. The business had revenue of $25.71 million for the quarter, compared to analyst estimates of $26.28 million. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. On average, equities research analysts forecast that Sutro Biopharma will post -2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its stake in Sutro Biopharma by 49.1% during 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 in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sutro Biopharma during the first quarter valued at about $92,000. The Manufacturers Life Insurance Company lifted its holdings in Sutro Biopharma by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after purchasing an additional 7,082 shares during the period. Price T Rowe Associates Inc. MD grew its position in Sutro Biopharma by 24.8% in the 1st 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 in the last quarter. Finally, SG Americas Securities LLC grew its position in Sutro Biopharma by 134.6% in the 3rd quarter. SG Americas Securities LLC now owns 34,662 shares of the company’s stock valued at $120,000 after buying an additional 19,890 shares in the last quarter. 96.99% of the stock is owned by 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.