Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $6.11

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.11.

STRO has been the subject of a number of research reports. Bank of America reduced their target price on shares of Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating for the company in a report on Monday, May 19th. Wedbush cut Sutro Biopharma from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $2.00 in a research note on Friday, March 14th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, April 29th. Citizens Jmp cut shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. Finally, Piper Sandler upgraded shares of Sutro Biopharma from a “neutral” rating to an “overweight” rating and set a $2.00 price target for the company in a research report on Monday.

Sutro Biopharma Price Performance

Sutro Biopharma stock opened at $0.79 on Monday. Sutro Biopharma has a 12-month low of $0.52 and a 12-month high of $5.17. The stock has a market capitalization of $67.04 million, a PE ratio of -0.27 and a beta of 1.70. The firm has a 50 day simple moving average of $0.85 and a 200-day simple moving average of $1.37.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.28). The firm had revenue of $17.40 million for the quarter, compared to analyst estimates of $11.61 million. Sutro Biopharma had a negative net margin of 373.66% and a negative return on equity of 347.60%. On average, analysts forecast that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Several large investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in shares of Sutro Biopharma in the first quarter valued at approximately $99,000. Acadian Asset Management LLC boosted its holdings in Sutro Biopharma by 78.9% in the 1st quarter. Acadian Asset Management LLC now owns 3,134,586 shares of the company’s stock valued at $2,037,000 after purchasing an additional 1,382,661 shares during the period. AQR Capital Management LLC grew its position in Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after purchasing an additional 1,206,330 shares during the last quarter. Vestal Point Capital LP grew its position in Sutro Biopharma by 1.2% in the 1st quarter. Vestal Point Capital LP now owns 2,600,000 shares of the company’s stock worth $1,692,000 after purchasing an additional 30,000 shares during the last quarter. Finally, RA Capital Management L.P. bought a new position in shares of Sutro Biopharma during the 1st quarter worth about $2,885,000. Institutional investors and hedge funds 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.