Sutro Biopharma, Inc. (NASDAQ:STRO) Stock Has Average Price Target of $49.50

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have received an average recommendation of “Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $49.50.

Several analysts recently issued reports on STRO shares. Wall Street Zen lowered shares of Sutro Biopharma from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Sutro Biopharma in a research note on Thursday, August 13th. Citigroup reiterated a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Finally, Citizens Jmp decreased their price objective on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a report on Thursday, August 13th.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock opened at $14.45 on Friday. The firm has a market capitalization of $239.58 million, a price-to-earnings ratio of -1.21 and a beta of 1.49. Sutro Biopharma has a fifty-two week low of $7.15 and a fifty-two week high of $43.85. The stock has a 50 day moving average of $19.76 and a 200 day moving average of $25.85.

Sutro Biopharma (NASDAQ:STRO) last posted its earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The business had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. Analysts forecast that Sutro Biopharma will post -8.41 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STRO. Merck & Co. Inc. purchased a new stake in shares of Sutro Biopharma in the 2nd quarter valued at $9,042,053. Seven Fleet Capital Management LP acquired a new position in Sutro Biopharma during the 2nd quarter worth about $5,283,000. Perceptive Advisors LLC purchased a new position in Sutro Biopharma during the 1st quarter valued at about $17,818,000. Affinity Asset Advisors LLC boosted its holdings in Sutro Biopharma by 42.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after acquiring an additional 321,137 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Sutro Biopharma in the 2nd quarter valued at about $1,373,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary cell-free protein synthesis and protein-engineering platforms to design and manufacture complex biologic medicines, including antibody-drug conjugates (ADCs) and immuno-oncology treatments.

Sutro’s principal product candidate is luveltamab tazevibulin, also known as luvelta or STRO-002, an ADC designed to target folate receptor alpha, a protein expressed in several cancers.