Sutro Biopharma (NASDAQ:STRO) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report sent to investors on Friday morning, Benzinga reports. Piper Sandler currently has a $11.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the company. HC Wainwright reaffirmed a buy rating and set a $12.00 target price on shares of Sutro Biopharma in a research report on Friday. Truist Financial reduced their price objective on shares of Sutro Biopharma from $18.00 to $15.00 and set a buy rating for the company in a research note on Friday, August 16th. Finally, JMP Securities reissued a market outperform rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $12.13.

Sutro Biopharma Trading Up 14.5 %

Shares of NASDAQ STRO opened at $3.79 on Friday. Sutro Biopharma has a twelve month low of $2.01 and a twelve month high of $6.13. The firm has a 50-day moving average of $3.94 and a two-hundred day moving average of $3.93. The company has a market capitalization of $310.00 million, a price-to-earnings ratio of -2.02 and a beta of 1.17.

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

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC raised its position in Sutro Biopharma by 49.1% during the second 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 acquired a new stake in shares of Sutro Biopharma in the 1st quarter valued at $92,000. The Manufacturers Life Insurance Company increased its position in Sutro Biopharma by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after buying an additional 7,082 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Sutro Biopharma by 24.8% during 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 in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Sutro Biopharma by 134.6% during the 3rd quarter. SG Americas Securities LLC now owns 34,662 shares of the company’s stock worth $120,000 after acquiring an additional 19,890 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.