Sutro Biopharma’s (STRO) “Overweight” Rating Reaffirmed at Piper Sandler

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They currently have a $11.00 target price on the stock. Piper Sandler’s price target would indicate a potential upside of 198.10% from the company’s previous close.

STRO has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research note on Friday. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Monday, September 16th. Finally, Truist Financial dropped their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.13.

Sutro Biopharma Stock Up 11.5 %

Shares of STRO stock traded up $0.38 during mid-day trading on Friday, hitting $3.69. 548,764 shares of the company’s stock were exchanged, compared to its average volume of 837,363. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.13. The stock has a 50-day simple moving average of $3.94 and a two-hundred day simple moving average of $3.93. The stock has a market cap of $302.43 million, a price-to-earnings ratio of -2.02 and a beta of 1.17.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.20. Sutro Biopharma had a negative return on equity of 102.06% and a negative net margin of 73.48%. The business had revenue of $25.71 million for the quarter, compared to analyst estimates of $26.28 million. As a group, analysts anticipate that Sutro Biopharma will post -2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after buying an additional 5,373 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sutro Biopharma in the 1st quarter valued at about $92,000. The Manufacturers Life Insurance Company boosted its holdings in 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 holdings in shares of Sutro Biopharma by 24.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after acquiring an additional 3,578 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Sutro Biopharma by 134.6% during the 3rd quarter. SG Americas Securities LLC now owns 34,662 shares of the company’s stock worth $120,000 after acquiring an additional 19,890 shares during the period. 96.99% of the stock is owned by institutional investors.

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.