Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) PT at $12.13

Sutro Biopharma, Inc. (NASDAQ:STRO) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $12.13.

A number of analysts have recently 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, October 11th. Truist Financial lowered their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. Piper Sandler reissued an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. Finally, 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.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its stake in Sutro Biopharma by 134.6% in the third quarter. SG Americas Securities LLC now owns 34,662 shares of the company’s stock valued at $120,000 after acquiring an additional 19,890 shares during the period. Point72 Asset Management L.P. boosted its stake in Sutro Biopharma by 1,606.1% in 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 during the period. Susquehanna Fundamental Investments LLC boosted its stake in Sutro Biopharma by 78.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 225,367 shares of the company’s stock valued at $660,000 after acquiring an additional 98,908 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Sutro Biopharma by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after acquiring an additional 7,082 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Sutro Biopharma by 691.5% in the second quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock valued at $831,000 after acquiring an additional 247,694 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Price Performance

Shares of STRO opened at $3.84 on Friday. The stock’s 50-day moving average is $3.84 and its two-hundred day moving average is $3.81. The stock has a market cap of $314.73 million, a PE ratio of -1.99 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 announced its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $25.71 million for the quarter, compared to analyst estimates of $26.28 million. On average, research analysts anticipate that Sutro Biopharma will post -2.96 earnings per share for the current year.

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.