Sutro Biopharma’s (STRO) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a report issued on Monday, Benzinga reports. JMP Securities currently has a $17.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Truist Financial cut their target price on Sutro Biopharma from $18.00 to $15.00 and set a buy rating on the stock in a research report on Friday, August 16th. HC Wainwright restated a buy rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Sutro Biopharma has a consensus rating of Buy and a consensus target price of $12.13.

Sutro Biopharma Trading Down 0.8 %

STRO opened at $3.92 on Monday. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13. The company has a market cap of $321.28 million, a price-to-earnings ratio of -2.09 and a beta of 1.18. The company’s fifty day moving average price is $4.10 and its two-hundred day moving average price is $4.00.

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

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently made changes to their positions in STRO. Point72 Asset Management L.P. grew its position in Sutro Biopharma by 1,606.1% during 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 buying an additional 4,186,938 shares during the period. Vanguard Group Inc. grew its position in shares of Sutro Biopharma by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after acquiring an additional 132,790 shares during the period. Kynam Capital Management LP increased its stake in shares of Sutro Biopharma by 28.9% during the 4th quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock worth $8,587,000 after purchasing an additional 449,052 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Sutro Biopharma by 30.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after purchasing an additional 370,705 shares during the period. Finally, Parkman Healthcare Partners LLC lifted its stake in Sutro Biopharma by 1.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,202,431 shares of the company’s stock valued at $5,158,000 after purchasing an additional 20,263 shares during the last quarter. 96.99% of the stock is owned by hedge funds and other 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.