Sutro Biopharma (NASDAQ:STRO) Receives Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report released on Friday, Benzinga reports. Piper Sandler currently has a $11.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities reiterated a market outperform rating and set a $17.00 target price on shares of Sutro Biopharma in a research report on Monday, September 16th. HC Wainwright reiterated a buy rating and set a $12.00 target price on shares of Sutro Biopharma in a research report on Friday. Finally, Truist Financial dropped their target price on shares of Sutro Biopharma from $18.00 to $15.00 and set a buy rating for the company in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Sutro Biopharma has an average rating of Buy and an average target price of $12.13.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $3.83 on Friday. The company has a 50-day moving average of $3.96 and a 200-day moving average of $3.91. The company has a market capitalization of $313.27 million, a price-to-earnings ratio of -2.04 and a beta of 1.17. Sutro Biopharma has a 52 week low of $2.01 and a 52 week high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.20. The company had revenue of $25.71 million during the quarter, compared to the consensus estimate of $26.28 million. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. Sell-side analysts forecast that Sutro Biopharma will post -2.96 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STRO. ProShare Advisors LLC lifted its holdings in Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after buying an additional 5,373 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Sutro Biopharma in the 1st quarter valued at $92,000. The Manufacturers Life Insurance Company lifted its stake in shares of Sutro Biopharma by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after purchasing an additional 7,082 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after purchasing an additional 3,578 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Sutro Biopharma by 134.6% in the 3rd quarter. SG Americas Securities LLC now owns 34,662 shares of the company’s stock valued at $120,000 after purchasing an additional 19,890 shares during the period. Institutional investors and hedge funds 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.