Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $12.13 Consensus PT from Analysts

Sutro Biopharma, Inc. (NASDAQ:STRO) has been given an average recommendation of “Buy” by the eight analysts that are currently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $12.13.

STRO has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Monday, September 16th. Truist Financial dropped their target price on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $11.00 price target on shares of Sutro Biopharma in a research note on Friday, October 11th.

Institutional Investors Weigh In On Sutro Biopharma

A number of large investors have recently bought and sold shares of STRO. Price T Rowe Associates Inc. MD raised its position in shares of Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after buying an additional 3,578 shares in the last quarter. ProShare Advisors LLC increased its stake in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after acquiring an additional 5,373 shares during the last quarter. Hsbc Holdings PLC raised its position in Sutro Biopharma by 9.7% during the second quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock valued at $173,000 after purchasing an additional 5,404 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Sutro Biopharma by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after purchasing an additional 7,082 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Sutro Biopharma in the 1st quarter valued at $92,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Price Performance

STRO opened at $3.83 on Wednesday. The business has a 50 day moving average of $3.97 and a 200-day moving average of $3.90. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $6.13. The stock has a market cap of $313.27 million, a price-to-earnings ratio of -2.04 and a beta of 1.17.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.20. The business had revenue of $25.71 million during the quarter, compared to the consensus estimate 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, analysts expect that Sutro Biopharma will post -2.96 earnings per share for the current year.

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.