Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) Price Target at $6.63

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned an average rating of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $6.63.

A number of equities research analysts have recently issued reports on STRO shares. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, December 11th. Piper Sandler set a $2.00 price objective on shares of Sutro Biopharma in a research note on Friday, March 14th. Wells Fargo & Company decreased their target price on shares of Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. HC Wainwright restated a “neutral” rating and issued a $2.00 price target (down from $12.00) on shares of Sutro Biopharma in a research report on Monday, March 17th. Finally, Bank of America downgraded Sutro Biopharma from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $11.00 to $1.00 in a research report on Friday, March 14th.

Sutro Biopharma Trading Down 8.5 %

Shares of Sutro Biopharma stock opened at $0.54 on Wednesday. Sutro Biopharma has a twelve month low of $0.54 and a twelve month high of $5.28. The firm’s 50-day moving average price is $1.39 and its 200 day moving average price is $2.37. The firm has a market capitalization of $44.70 million, a PE ratio of -0.34 and a beta of 1.70.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($2.10). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $10.44 million. During the same period in the prior year, the firm earned ($1.78) earnings per share. On average, sell-side analysts predict that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Suvretta Capital Management LLC lifted its stake in Sutro Biopharma by 3.8% during the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock worth $13,731,000 after acquiring an additional 275,000 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of Sutro Biopharma in the fourth quarter valued at approximately $4,729,000. Geode Capital Management LLC increased its stake in Sutro Biopharma by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after buying an additional 132,015 shares during the period. Parkman Healthcare Partners LLC increased its stake in Sutro Biopharma by 0.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company’s stock worth $3,179,000 after buying an additional 11,793 shares during the period. Finally, State Street Corp raised its stake in shares of Sutro Biopharma by 5.2% in the third quarter. State Street Corp now owns 1,647,162 shares of the company’s stock valued at $5,699,000 after acquiring an additional 81,855 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.