Sutro Biopharma, Inc. (NASDAQ:STRO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sutro Biopharma, Inc. (NASDAQ:STRO) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $52.4444.

A number of brokerages have weighed in on STRO. Truist Financial initiated coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They issued a “buy” rating and a $50.00 target price on the stock. Mizuho set a $50.00 price target on Sutro Biopharma and gave the company an “outperform” rating in a research note on Thursday, April 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a report on Friday, May 8th. Citizens Jmp boosted their price objective on Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, June 14th.

Sutro Biopharma Stock Down 3.1%

Sutro Biopharma stock opened at $22.88 on Tuesday. The stock has a market cap of $379.12 million, a PE ratio of -2.07 and a beta of 1.51. Sutro Biopharma has a 12-month low of $7.15 and a 12-month high of $43.85. The business’s 50-day moving average price is $28.27 and its two-hundred day moving average price is $24.81.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The firm had revenue of $14.52 million for the quarter, compared to the consensus estimate of $8.89 million. As a group, analysts expect that Sutro Biopharma will post -9 earnings per share for the current year.

Institutional Trading of Sutro Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC increased its stake in shares of Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after buying an additional 30,000 shares during the period. Invesco Ltd. boosted its position in Sutro Biopharma by 137.8% during the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after buying an additional 53,390 shares during the period. Cerity Partners LLC grew its holdings in Sutro Biopharma by 169.9% during the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after acquiring an additional 66,372 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Sutro Biopharma during the 2nd quarter worth approximately $82,000. Finally, State of Tennessee Department of Treasury acquired a new position in Sutro Biopharma in the 4th quarter valued at approximately $86,000. 96.99% of the stock is currently owned by institutional investors.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.