Sutro Biopharma (NASDAQ:STRO) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note issued to investors on Friday morning, Benzinga reports. Piper Sandler currently has a $11.00 target price on the stock.

STRO has been the subject of several other research reports. JMP Securities reaffirmed a market outperform rating and set a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, September 16th. Truist Financial reduced 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. Finally, HC Wainwright reissued a buy rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Friday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sutro Biopharma currently has a consensus rating of Buy and an average price target of $12.13.

Sutro Biopharma Trading Up 14.5 %

Sutro Biopharma stock opened at $3.79 on Friday. The firm has a 50 day simple moving average of $3.94 and a 200 day simple moving average of $3.94. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13. The firm has a market capitalization of $310.63 million, a price-to-earnings ratio of -2.07 and a beta of 1.17.

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. Sutro Biopharma had a negative return on equity of 102.06% and a negative net margin of 73.48%. The company had revenue of $25.71 million during the quarter, compared to analysts’ expectations of $26.28 million. On average, equities research analysts forecast that Sutro Biopharma will post -2.96 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its stake in Sutro Biopharma by 1,606.1% in the second quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock worth $13,032,000 after buying an additional 4,186,938 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Sutro Biopharma by 214.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock valued at $6,043,000 after purchasing an additional 729,239 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Sutro Biopharma by 30.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock valued at $4,613,000 after purchasing an additional 370,705 shares during the last quarter. AQR Capital Management LLC raised its position in Sutro Biopharma by 691.5% in the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock worth $831,000 after purchasing an additional 247,694 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Sutro Biopharma by 48.1% in the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock worth $2,108,000 after purchasing an additional 233,700 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

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.