Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $6.63 Consensus PT from Analysts

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have received a consensus rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.63.

Several brokerages have recently commented on STRO. Wedbush lowered Sutro Biopharma from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $2.00 in a research report on Friday, March 14th. HC Wainwright reiterated a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a research note on Tuesday. Citizens Jmp downgraded shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday, March 14th. Piper Sandler set a $2.00 price objective on shares of Sutro Biopharma in a research report on Friday, March 14th. Finally, Bank of America cut shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and cut their target price for the stock from $11.00 to $1.00 in a report on Friday, March 14th.

Sutro Biopharma Trading Down 2.5 %

STRO stock opened at $0.87 on Friday. The firm has a 50 day simple moving average of $0.95 and a 200-day simple moving average of $1.99. The company has a market capitalization of $73.79 million, a P/E ratio of -0.54 and a beta of 1.70. Sutro Biopharma has a twelve month low of $0.52 and a twelve month high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($2.10). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The company had revenue of $14.00 million for the quarter, compared to analyst estimates of $10.44 million. During the same period in the prior year, the business earned ($1.78) earnings per share. On average, research analysts predict that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Suvretta Capital Management LLC raised its position in shares of Sutro Biopharma by 3.8% during the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock worth $13,731,000 after buying an additional 275,000 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Sutro Biopharma in the fourth quarter worth approximately $4,729,000. Geode Capital Management LLC lifted its position in Sutro Biopharma by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after purchasing an additional 132,015 shares during the period. Parkman Healthcare Partners LLC increased its position in shares of Sutro Biopharma by 0.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company’s stock valued at $3,179,000 after purchasing an additional 11,793 shares during the period. Finally, State Street Corp raised its stake in shares of Sutro Biopharma by 5.2% in the 3rd quarter. State Street Corp now owns 1,647,162 shares of the company’s stock worth $5,699,000 after buying an additional 81,855 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors.

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.