Sutro Biopharma (NASDAQ:STRO) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report released on Friday, Benzinga reports. The brokerage currently has a $12.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. JMP Securities reiterated a market outperform rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Monday, September 16th. Truist Financial dropped their target price on shares of Sutro Biopharma from $18.00 to $15.00 and set a buy rating on the stock in a research note on Friday, August 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $12.13.

Sutro Biopharma Stock Performance

Shares of STRO stock opened at $3.83 on Friday. Sutro Biopharma has a 52-week low of $2.01 and a 52-week high of $6.13. The company has a 50-day simple moving average of $3.96 and a two-hundred day simple moving average of $3.91. The company has a market capitalization of $313.27 million, a price-to-earnings ratio of -2.04 and a beta of 1.17.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.20. The firm had revenue of $25.71 million for the quarter, compared to analysts’ expectations of $26.28 million. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. On average, sell-side analysts forecast that Sutro Biopharma will post -2.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its holdings in Sutro Biopharma by 1,606.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock worth $13,032,000 after buying an additional 4,186,938 shares during the period. Vanguard Group Inc. boosted its holdings in Sutro Biopharma by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after purchasing an additional 132,790 shares during the period. Acadian Asset Management LLC boosted its holdings in Sutro Biopharma by 30.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock valued at $4,613,000 after purchasing an additional 370,705 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Sutro Biopharma by 214.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock valued at $6,043,000 after purchasing an additional 729,239 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in Sutro Biopharma by 15.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock valued at $2,659,000 after purchasing an additional 122,299 shares during the period. 96.99% of the stock is owned by institutional investors.

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.