Sutro Biopharma’s (STRO) “Outperform” Rating Reaffirmed at Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research report issued on Tuesday, RTT News reports. They currently have a $8.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 113.90% from the company’s current price.

Other analysts have also recently issued reports about the stock. Truist Financial decreased their price target on shares of Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and set a $11.00 price target (down from $12.00) on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. HC Wainwright decreased their price target on shares of Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $12.57.

Sutro Biopharma Trading Up 10.2 %

Shares of Sutro Biopharma stock opened at $3.74 on Tuesday. The stock has a market capitalization of $233.53 million, a price-to-earnings ratio of -2.10 and a beta of 0.95. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13. The firm’s 50-day moving average price is $4.33 and its two-hundred day moving average price is $3.87.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Monday, March 25th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.82) by $1.24. Sutro Biopharma had a negative net margin of 69.47% and a negative return on equity of 71.42%. The business had revenue of $113.72 million for the quarter, compared to analysts’ expectations of $12.16 million. As a group, equities research analysts predict that Sutro Biopharma will post -3.15 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. raised its holdings in Sutro Biopharma by 1,275.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock worth $10,775,000 after purchasing an additional 2,879,412 shares during the period. Kynam Capital Management LP raised its holdings in Sutro Biopharma by 28.9% in the fourth 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 period. Opaleye Management Inc. acquired a new stake in Sutro Biopharma in the fourth quarter worth $1,293,000. Vontobel Holding Ltd. raised its holdings in Sutro Biopharma by 42.5% in the fourth quarter. Vontobel Holding Ltd. now owns 641,684 shares of the company’s stock worth $2,753,000 after purchasing an additional 191,345 shares during the period. Finally, Sectoral Asset Management Inc. raised its holdings in Sutro Biopharma by 44.3% in the fourth quarter. Sectoral Asset Management Inc. now owns 623,684 shares of the company’s stock worth $2,676,000 after purchasing an additional 191,345 shares during the period. 96.99% of the stock is owned by 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.