Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $4.47 Consensus PT from Brokerages

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.4667.

A number of brokerages have weighed in on STRO. Wall Street Zen raised Sutro Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Piper Sandler raised Sutro Biopharma from a “neutral” rating to an “overweight” rating and set a $2.00 price target for the company in a research report on Monday, June 16th. Finally, Wells Fargo & Company reduced their price target on Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 12th.

Sutro Biopharma Trading Up 2.3%

STRO opened at $0.89 on Wednesday. The stock has a market cap of $75.16 million, a price-to-earnings ratio of -0.35 and a beta of 1.57. Sutro Biopharma has a 1 year low of $0.52 and a 1 year high of $4.60. The stock has a fifty day moving average price of $0.87 and a 200 day moving average price of $0.83.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.25. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 201.32%.The company had revenue of $63.74 million during the quarter, compared to analysts’ expectations of $14.55 million. As a group, sell-side analysts forecast that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in shares of Sutro Biopharma by 74.3% in the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock worth $50,000 after purchasing an additional 11,494 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in shares of Sutro Biopharma in the second quarter worth about $27,000. Cerity Partners LLC bought a new position in shares of Sutro Biopharma in the first quarter worth about $25,000. Vontobel Holding Ltd. increased its stake in shares of Sutro Biopharma by 100.0% in the first quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company’s stock worth $33,000 after purchasing an additional 25,000 shares during the period. Finally, Savant Capital LLC bought a new position in shares of Sutro Biopharma in the second quarter worth about $37,000. 96.99% of the stock is currently owned by 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.