Sutro Biopharma (NASDAQ:STRO) Coverage Initiated by Analysts at Bank of America

Bank of America began coverage on shares of Sutro Biopharma (NASDAQ:STRO) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

Several other brokerages have also recently issued reports on STRO. Wedbush restated an outperform rating and set a $8.00 target price on shares of Sutro Biopharma in a research report on Tuesday, April 30th. Piper Sandler reiterated an overweight rating and issued a $11.00 target price (down previously from $12.00) on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Truist Financial dropped their target price 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. Oppenheimer reaffirmed an outperform rating and set a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Finally, HC Wainwright decreased their target price on Sutro Biopharma from $16.00 to $12.00 and set a buy rating for the company in a research report on Tuesday, March 26th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $12.50.

Sutro Biopharma Stock Up 0.7 %

Shares of STRO stock opened at $4.28 on Wednesday. Sutro Biopharma has a 52 week low of $2.01 and a 52 week high of $6.13. The firm has a 50 day moving average of $4.23 and a 200-day moving average of $3.89. The company has a market cap of $267.24 million, a price-to-earnings ratio of -2.40 and a beta of 1.09.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Monday, March 25th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $113.72 million for the quarter, compared to analysts’ expectations of $12.16 million. Analysts anticipate that Sutro Biopharma will post -3.15 earnings per share for the current year.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in shares of Sutro Biopharma by 14,125.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock valued at $38,000 after buying an additional 8,758 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Sutro Biopharma during the 4th quarter worth approximately $60,000. SG Americas Securities LLC purchased a new stake in shares of Sutro Biopharma in the third quarter valued at approximately $113,000. Exchange Traded Concepts LLC increased its holdings in shares of Sutro Biopharma by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock valued at $154,000 after purchasing an additional 9,092 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Sutro Biopharma by 40.7% in the third quarter. Barclays PLC now owns 62,579 shares of the company’s stock valued at $217,000 after purchasing an additional 18,093 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

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.