Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $12.13 Average Target Price from Brokerages

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned an average recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.13.

STRO has been the topic of a number of research reports. Truist Financial cut their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a report on Monday. Finally, JMP Securities reiterated a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Monday.

Sutro Biopharma Price Performance

Sutro Biopharma stock opened at $3.95 on Friday. The stock’s 50-day moving average is $4.10 and its 200-day moving average is $4.01. The company has a market cap of $323.09 million, a price-to-earnings ratio of -2.10 and a beta of 1.18. Sutro Biopharma has a 12 month low of $2.01 and a 12 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, topping analysts’ consensus estimates of ($0.79) by $0.20. The company 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%. Research analysts anticipate that Sutro Biopharma will post -2.96 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Sutro Biopharma by 24.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after purchasing an additional 3,578 shares during the last quarter. ProShare Advisors LLC increased its holdings in Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Sutro Biopharma by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock worth $173,000 after purchasing an additional 5,404 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings 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 purchasing an additional 7,082 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Sutro Biopharma in the 4th quarter worth approximately $60,000. 96.99% of the stock is currently 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.