Sutro Biopharma (NASDAQ:STRO) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report released on Tuesday, RTT News reports. They currently have a $8.00 target price on the stock.

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

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock opened at $3.40 on Tuesday. The firm has a market cap of $211.98 million, a PE ratio of -1.91 and a beta of 0.95. The firm’s 50-day simple moving average is $4.36 and its 200-day simple moving average is $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 released its quarterly earnings data on Monday, March 25th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.82) by $1.24. The firm had revenue of $113.72 million for the quarter, compared to analyst estimates of $12.16 million. Sutro Biopharma had a negative net margin of 69.47% and a negative return on equity of 71.42%. On average, equities analysts predict that Sutro Biopharma will post -3.15 earnings per share for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Large investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its position in shares of Sutro Biopharma by 1,275.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock worth $10,775,000 after acquiring an additional 2,879,412 shares in the last quarter. Kynam Capital Management LP boosted its holdings in Sutro Biopharma by 28.9% during the fourth quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock worth $8,587,000 after purchasing an additional 449,052 shares during the last quarter. Parkman Healthcare Partners LLC lifted its stake in Sutro Biopharma by 1.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,202,431 shares of the company’s stock valued at $5,158,000 after acquiring an additional 20,263 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Sutro Biopharma by 18.2% in the third quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock valued at $2,684,000 after acquiring an additional 119,399 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Sutro Biopharma by 42.5% in the fourth quarter. Vontobel Holding Ltd. now owns 641,684 shares of the company’s stock valued at $2,753,000 after acquiring an additional 191,345 shares during the last quarter. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.