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

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have received an average rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.57.

A number of analysts recently issued reports on STRO shares. Wedbush restated an “outperform” rating and issued a $8.00 price target on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Piper Sandler reiterated an “overweight” rating and set a $11.00 price target (down from $12.00) on shares of Sutro Biopharma in a report on Wednesday, April 3rd. JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $10.00 target price on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Finally, HC Wainwright decreased their price target on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th.

Sutro Biopharma Trading Down 1.3 %

Shares of NASDAQ STRO opened at $3.72 on Wednesday. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $6.13. The firm’s 50-day moving average price is $4.45 and its 200-day moving average price is $3.88. The stock has a market capitalization of $232.28 million, a price-to-earnings ratio of -2.09 and a beta of 0.95.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Monday, March 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $1.24. The business had revenue of $113.72 million for the quarter, compared to the consensus estimate of $12.16 million. Sutro Biopharma had a negative return on equity of 71.42% and a negative net margin of 69.47%. On average, equities analysts predict that Sutro Biopharma will post -3.18 EPS for the current fiscal year.

Insider Activity at Sutro Biopharma

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the transaction, the insider now directly owns 12,803 shares in the company, valued at approximately $64,015. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its stake in Sutro Biopharma by 1,275.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock worth $10,775,000 after acquiring an additional 2,879,412 shares during the period. Kynam Capital Management LP boosted its stake in shares of Sutro Biopharma by 28.9% during the fourth quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock valued at $8,587,000 after purchasing an additional 449,052 shares in the last quarter. Opaleye Management Inc. purchased a new position in Sutro Biopharma during the fourth quarter valued at approximately $1,293,000. Vontobel Holding Ltd. raised its stake in Sutro Biopharma by 42.5% in the fourth quarter. Vontobel Holding Ltd. now owns 641,684 shares of the company’s stock worth $2,753,000 after buying an additional 191,345 shares in the last quarter. Finally, Sectoral Asset Management Inc. lifted its holdings in Sutro Biopharma by 44.3% during the fourth quarter. Sectoral Asset Management Inc. now owns 623,684 shares of the company’s stock worth $2,676,000 after buying an additional 191,345 shares during the period. Institutional investors own 96.99% of the company’s stock.

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.