Sutro Biopharma, Inc. (NASDAQ:STRO) Receives Consensus Rating of “Buy” from Analysts

Sutro Biopharma, Inc. (NASDAQ:STRO) has been assigned a consensus rating of “Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $49.50.

Several research analysts recently weighed in on the company. Citigroup reaffirmed a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Wells Fargo & Company began coverage on Sutro Biopharma in a report on Wednesday, September 30th. They issued an “overweight” rating and a $49.00 price objective on the stock. Citizens Jmp reduced their price objective on Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Wednesday, August 5th. Finally, Mizuho raised shares of Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, September 16th.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $15.32 on Friday. The company has a market cap of $254.02 million, a P/E ratio of -1.28 and a beta of 1.49. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85. The company has a 50-day moving average of $19.40 and a 200-day moving average of $25.77.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The company had revenue of $9.84 million for the quarter, compared to analysts’ expectations of $11.96 million. As a group, equities research analysts anticipate that Sutro Biopharma will post -8.41 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds have recently made changes to their positions in the business. Orbimed Advisors LLC acquired a new stake in Sutro Biopharma in the 1st quarter valued at $19,956,000. Perceptive Advisors LLC acquired a new position in shares of Sutro Biopharma during the first quarter worth about $17,818,000. ADAR1 Capital Management LLC boosted its position in shares of Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after buying an additional 457,364 shares during the period. Affinity Asset Advisors LLC boosted its position in shares of Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after buying an additional 321,137 shares during the period. Finally, Merck & Co. Inc. acquired a new stake in shares of Sutro Biopharma in the second quarter valued at about $9,042,053. Hedge funds and other institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary cell-free protein synthesis and protein-engineering platforms to design and manufacture complex biologic medicines, including antibody-drug conjugates (ADCs) and immuno-oncology treatments.

Sutro’s principal product candidate is luveltamab tazevibulin, also known as luvelta or STRO-002, an ADC designed to target folate receptor alpha, a protein expressed in several cancers.