Sutro Biopharma (NASDAQ:STRO) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note published on Tuesday, RTT News reports. Wedbush currently has a $8.00 price objective on the stock.

A number of other equities research analysts have also recently issued reports on STRO. Truist Financial dropped their price objective on Sutro Biopharma from $25.00 to $18.00 and set a buy rating on the stock in a research note on Wednesday, April 3rd. HC Wainwright cut their price target on shares of Sutro Biopharma from $16.00 to $12.00 and set a buy rating for the company in a research note on Tuesday, March 26th. JMP Securities restated a market outperform rating and set a $17.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Piper Sandler reiterated an overweight rating and issued a $11.00 target price (down from $12.00) on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Finally, Oppenheimer reissued an outperform rating and set a $10.00 price target on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $12.57.

Sutro Biopharma Price Performance

Shares of Sutro Biopharma stock opened at $3.83 on Tuesday. The company has a market capitalization of $239.15 million, a P/E ratio of -2.15 and a beta of 1.09. The business has a 50-day moving average of $4.29 and a two-hundred day moving average of $3.87. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last posted its earnings results 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 return on equity of 71.42% and a negative net margin of 69.47%. The business had revenue of $113.72 million during the quarter, compared to analysts’ expectations of $12.16 million. On average, equities analysts anticipate that Sutro Biopharma will post -3.15 EPS for the current fiscal year.

Institutional Trading of Sutro Biopharma

Hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. raised its holdings in Sutro Biopharma by 1,275.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after acquiring an additional 2,879,412 shares during the period. Acadian Asset Management LLC increased its stake in shares of Sutro Biopharma by 18.2% during the third quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock worth $2,684,000 after purchasing an additional 119,399 shares during the period. Vontobel Holding Ltd. lifted its holdings in Sutro Biopharma by 42.5% during the 4th 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 last quarter. Panagora Asset Management Inc. boosted its stake in Sutro Biopharma by 8.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock valued at $1,281,000 after purchasing an additional 28,160 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Sutro Biopharma by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock valued at $154,000 after buying an additional 9,092 shares in the last quarter. 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.