Sutro Biopharma’s (STRO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a $12.00 target price on the stock.

A number of other analysts also recently issued reports on the stock. JMP Securities reissued a market outperform rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Monday, September 16th. Truist Financial reduced their price target on 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, Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $12.13.

Sutro Biopharma Trading Up 14.5 %

Sutro Biopharma stock opened at $3.79 on Friday. The company has a market capitalization of $310.00 million, a price-to-earnings ratio of -2.02 and a beta of 1.17. The stock’s 50 day moving average is $3.94 and its 200-day moving average is $3.93. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $25.71 million for the quarter, compared to analysts’ expectations of $26.28 million. As a group, equities research analysts predict that Sutro Biopharma will post -2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in STRO. ProShare Advisors LLC raised its holdings in shares of 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 buying an additional 5,373 shares in the last quarter. Lazard Asset Management LLC bought a new position in Sutro Biopharma in the first quarter valued at about $92,000. The Manufacturers Life Insurance Company raised its stake 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 acquiring an additional 7,082 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 worth $102,000 after acquiring an additional 3,578 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Sutro Biopharma by 134.6% in the third 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 during the last quarter. 96.99% of the stock is currently 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.