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 report published on Monday morning, Benzinga reports. They currently have a $12.00 price objective on the stock.

Separately, Truist Financial reduced their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a buy rating on the stock in a research report on Friday, August 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $12.13.

Sutro Biopharma Stock Down 0.8 %

STRO stock opened at $3.92 on Monday. The stock’s 50 day moving average is $4.10 and its two-hundred day moving average is $4.00. Sutro Biopharma has a 52-week low of $2.01 and a 52-week high of $6.13. The company has a market capitalization of $321.28 million, a PE ratio of -2.09 and a beta of 1.18.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.28 million. As a group, sell-side analysts anticipate that Sutro Biopharma will post -2.96 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC lifted its holdings in shares of Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Sutro Biopharma in the fourth quarter worth $60,000. Lazard Asset Management LLC acquired a new stake in Sutro Biopharma in the first quarter worth $92,000. The Manufacturers Life Insurance Company lifted its stake in Sutro Biopharma by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after buying an additional 7,082 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Sutro Biopharma by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.