Sutro Biopharma (NASDAQ:STRO) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $12.00 price objective on the stock.

STRO has been the subject of a number of other research reports. Wedbush reissued an outperform rating and set a $8.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, May 14th. Oppenheimer reissued an outperform rating and set a $10.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, May 15th. Finally, Bank of America assumed coverage on Sutro Biopharma in a research note on Wednesday, May 8th. They set a buy rating and a $12.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $12.50.

Sutro Biopharma Stock Performance

STRO traded up $0.75 during midday trading on Wednesday, hitting $4.34. The stock had a trading volume of 508,735 shares, compared to its average volume of 884,411. The company has a market cap of $354.97 million, a P/E ratio of -2.07 and a beta of 1.22. The business has a fifty day moving average of $3.52 and a 200 day moving average of $4.05. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.20. The business had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.28 million. Sutro Biopharma had a negative return on equity of 94.18% and a negative net margin of 74.61%. On average, equities research analysts anticipate that Sutro Biopharma will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of Sutro Biopharma by 14,125.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock valued at $38,000 after acquiring an additional 8,758 shares in the last quarter. ProShare Advisors LLC raised its holdings in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Sutro Biopharma in the fourth quarter worth $60,000. Lazard Asset Management LLC bought a new position in Sutro Biopharma in the first quarter worth $92,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after purchasing an additional 3,578 shares in the last quarter. 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.