Sutro Biopharma’s (STRO) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note issued to investors on Monday, Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

Separately, Truist Financial dropped their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a buy rating for the company in a research report on Friday, August 16th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $12.13.

Sutro Biopharma Stock Down 1.5 %

Shares of STRO opened at $3.95 on Monday. The stock has a market capitalization of $323.09 million, a P/E ratio of -2.10 and a beta of 1.18. The firm has a fifty day simple moving average of $4.10 and a two-hundred day simple moving average of $4.01. Sutro Biopharma has a twelve month low of $2.01 and a twelve month high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.20. The business had revenue of $25.71 million during the quarter, compared to analysts’ expectations of $26.28 million. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. Sell-side analysts expect that Sutro Biopharma will post -2.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently modified their holdings of STRO. ProShare Advisors LLC lifted its position in shares of Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Sutro Biopharma in the 4th quarter worth about $60,000. Lazard Asset Management LLC bought a new position in shares of Sutro Biopharma in the 1st quarter worth about $92,000. The Manufacturers Life Insurance Company increased its stake in shares of Sutro Biopharma by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after acquiring an additional 7,082 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after acquiring an additional 3,578 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

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.