Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) PT at $12.13

Sutro Biopharma, Inc. (NASDAQ:STRO) has received an average rating of “Buy” from the eight research firms that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $12.13.

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

Institutional Trading of Sutro Biopharma

A number of institutional investors have recently made changes to their positions in STRO. Price T Rowe Associates Inc. MD raised its holdings in Sutro Biopharma by 24.8% during 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 during the last quarter. ProShare Advisors LLC increased its position in shares of 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 period. Hsbc Holdings PLC raised its stake in shares of 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 acquiring an additional 5,404 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 period. Finally, Gladius Capital Management LP bought a new stake in shares of Sutro Biopharma in the third quarter worth about $28,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Price Performance

Shares of STRO opened at $4.16 on Friday. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13. The company has a market capitalization of $340.97 million, a P/E ratio of -2.27 and a beta of 1.17. The firm’s 50 day simple moving average is $3.80 and its 200 day simple moving average is $3.82.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.20. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. The firm had revenue of $25.71 million for the quarter, compared to analysts’ expectations of $26.28 million. On average, equities analysts anticipate 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.