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

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.14.

Several research analysts recently weighed in on STRO shares. Truist Financial reduced their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 16th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research note on Friday, October 11th. Piper Sandler restated an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th.

Sutro Biopharma Trading Up 5.3 %

Shares of NASDAQ STRO opened at $4.38 on Friday. The company has a 50 day simple moving average of $3.80 and a two-hundred day simple moving average of $3.82. The stock has a market cap of $358.98 million, a price-to-earnings ratio of -2.39 and a beta of 1.17. 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 results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.20. The company 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%. Analysts forecast that Sutro Biopharma will post -2.96 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sutro Biopharma in the first quarter valued at approximately $249,000. BNP Paribas Financial Markets increased its position in Sutro Biopharma by 500.1% during the first quarter. BNP Paribas Financial Markets now owns 98,227 shares of the company’s stock worth $555,000 after purchasing an additional 81,858 shares during the last quarter. Chase Investment Counsel Corp purchased a new position in Sutro Biopharma during the first quarter worth about $326,000. Susquehanna Fundamental Investments LLC acquired a new position in Sutro Biopharma in the 1st quarter valued at about $714,000. Finally, Russell Investments Group Ltd. boosted its holdings in Sutro Biopharma by 192.9% in the 1st quarter. Russell Investments Group Ltd. now owns 111,955 shares of the company’s stock valued at $633,000 after purchasing an additional 73,731 shares during the last quarter. 96.99% of the stock is 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.