Sutro Biopharma, Inc. (NASDAQ:STRO) Given Average Rating of “Buy” by Brokerages

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have received an average recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.13.

A number of research firms have weighed in on STRO. Piper Sandler reiterated an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a research note on Friday, October 11th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. Finally, Truist Financial dropped 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.

Sutro Biopharma Trading Up 9.2 %

STRO stock opened at $3.55 on Friday. The stock has a market cap of $290.96 million, a P/E ratio of -1.94 and a beta of 1.17. The stock’s fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $3.81. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly 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 company had revenue of $25.71 million for the quarter, compared to the consensus estimate 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, analysts forecast that Sutro Biopharma will post -2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its stake in Sutro Biopharma by 1,606.1% during the second quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock valued at $13,032,000 after acquiring an additional 4,186,938 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Sutro Biopharma by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after purchasing an additional 132,790 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Sutro Biopharma by 30.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock valued at $4,613,000 after purchasing an additional 370,705 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Sutro Biopharma by 214.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock worth $6,043,000 after purchasing an additional 729,239 shares during the period. Finally, Panagora Asset Management Inc. raised its position in shares of Sutro Biopharma by 15.6% in the second quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock worth $2,659,000 after buying an additional 122,299 shares in the last quarter. 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.