Sutro Biopharma, Inc. (NASDAQ:STRO) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Analysts maintain a “Buy” consensus on Sutro Biopharma, with 10 buy, two strong-buy, and one sell rating among 13 firms. The average 12-month price target is $47.30, with individual targets ranging up to $60.
• Institutional investors own approximately 96.99% of the company’s stock, with several hedge funds and investment firms significantly increasing their positions.
• Sutro shares opened at $19.10 after falling 4.8%, while the company’s latest quarterly results missed expectations: a loss of $2.33 per share versus the expected $2.19 loss and revenue of $9.84 million versus $11.96 million expected.

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) have been given an average rating of "Buy" by the thirteen research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $47.30.

A number of analysts have weighed in on the company. HC Wainwright upped their target price on Sutro Biopharma from $28.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Wedbush reissued an "outperform" rating and issued a $60.00 price target on shares of Sutro Biopharma in a research report on Thursday, August 13th. Stifel Nicolaus set a $48.00 price objective on Sutro Biopharma and gave the stock a "buy" rating in a research note on Friday, August 7th. Leerink Partners set a $43.00 target price on Sutro Biopharma and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, Truist Financial assumed coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They set a "buy" rating and a $50.00 price target for the company.

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC grew its holdings in Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company's stock worth $37,000 after purchasing an additional 30,000 shares during the last quarter. Invesco Ltd. boosted its position in shares of Sutro Biopharma by 137.8% in the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company's stock worth $60,000 after purchasing an additional 53,390 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Sutro Biopharma by 169.9% in the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company's stock worth $75,000 after purchasing an additional 66,372 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Sutro Biopharma during the 2nd quarter worth $82,000. Finally, State of Tennessee Department of Treasury purchased a new position in Sutro Biopharma during the 4th quarter worth $86,000. Hedge funds and other institutional investors own 96.99% of the company's stock.

Sutro Biopharma Trading Down 4.8%

Shares of Sutro Biopharma stock opened at $19.10 on Wednesday. The stock's fifty day moving average price is $24.04 and its 200-day moving average price is $26.66. The firm has a market cap of $316.68 million, a P/E ratio of -1.60 and a beta of 1.48. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The firm had revenue of $9.84 million for the quarter, compared to analysts' expectations of $11.96 million. Analysts forecast that Sutro Biopharma will post -8.41 earnings per share for the current year.

Sutro Biopharma Company Profile

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.

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