Sutro Biopharma, Inc. (NASDAQ:STRO) Given Average Rating of “Buy” by Analysts

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $47.30.

STRO has been the subject of several recent research reports. Stifel Nicolaus set a $48.00 target price on shares of Sutro Biopharma and gave the stock a “buy” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Sutro Biopharma in a report on Thursday, August 13th. Citizens Jmp cut their price objective on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a report on Thursday, August 13th. Finally, Barclays initiated coverage on shares of Sutro Biopharma in a research note on Thursday, May 28th. They issued an “overweight” rating and a $56.00 price objective for the company.

Institutional Trading of Sutro Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new stake in Sutro Biopharma in the second quarter valued at approximately $359,000. Sigma Planning Corp bought a new stake in shares of Sutro Biopharma in the 1st quarter worth approximately $312,000. Bank of America Corp DE boosted its holdings in Sutro Biopharma by 348.1% in the first quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after acquiring an additional 14,661 shares in the last quarter. Stempoint Capital LP purchased a new position in shares of Sutro Biopharma during the first quarter valued at about $580,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sutro Biopharma during the 2nd quarter worth approximately $1,373,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO opened at $16.56 on Wednesday. The stock has a market capitalization of $274.56 million, a PE ratio of -1.38 and a beta of 1.48. Sutro Biopharma has a one year low of $7.15 and a one year high of $43.85. The business’s fifty day moving average price is $22.69 and its 200-day moving average price is $26.59.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The company had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. As a group, equities analysts expect that Sutro Biopharma will post -8.41 EPS for the current fiscal year.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture antibody-drug conjugates (ADCs) and immunostimulatory antibody conjugates intended to selectively target tumor cells while limiting damage to healthy tissue.

Sutro’s pipeline has included luveltamab tazevibulin, also known as luvelta or STRO-002, a folate receptor alpha-directed ADC being investigated for the treatment of ovarian and endometrial cancers.