Sutro Biopharma, Inc. (NASDAQ:STRO) Stock Rated "Buy" by Wall Street Brokerages

Key Points

• Analysts broadly favor Sutro Biopharma: Thirteen firms have a consensus “Buy” rating, with ten buys, two strong buys and one sell. The average 12-month price target is $49.50.
• Institutional ownership is substantial: Hedge funds and other institutions own approximately 96.99% of the company, with several investors increasing or initiating positions during the first half of the year.
• Shares face weak recent performance and ongoing losses: STRO opened at $15.35, well below its 52-week high of $43.85, while its latest quarterly loss and revenue came in worse than analyst expectations.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) has earned a consensus recommendation of "Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $49.50.

Several analysts have issued reports on the stock. Truist Financial started 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 on the stock. Mizuho upgraded Sutro Biopharma to a "strong-buy" rating in a report on Wednesday, September 16th. Citizens Jmp dropped their price objective on Sutro Biopharma from $41.00 to $34.00 and set a "market outperform" rating on the stock in a research note on Thursday, August 13th. Wells Fargo & Company started coverage on Sutro Biopharma in a research note on Wednesday. They issued an "overweight" rating and a $49.00 price target on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Sutro Biopharma in a report on Wednesday, August 5th.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently modified their holdings of the business. Affinity Asset Advisors LLC increased its holdings in shares of Sutro Biopharma by 42.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company's stock worth $26,642,000 after purchasing an additional 321,137 shares during the period. Orbimed Advisors LLC bought a new position in Sutro Biopharma during the 1st quarter worth $19,956,000. Perceptive Advisors LLC bought a new stake in shares of Sutro Biopharma during the 1st quarter valued at $17,818,000. ADAR1 Capital Management LLC grew its holdings in shares of Sutro Biopharma by 681.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company's stock worth $13,064,000 after purchasing an additional 457,364 shares in the last quarter. Finally, Merck & Co. Inc. bought a new stake in Sutro Biopharma during the second quarter worth about $9,042,053. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Trading Down 3.9%

STRO opened at $15.35 on Friday. The stock has a market capitalization of $254.50 million, a P/E ratio of -1.28 and a beta of 1.49. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85. The firm's fifty day simple moving average is $20.13 and its 200 day simple moving average is $25.94.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.19) by ($0.14). The company had revenue of $9.84 million during the quarter, compared to analyst estimates of $11.96 million. On average, equities research analysts predict that Sutro Biopharma will post -8.41 EPS for the current fiscal year.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture antibody-drug conjugates (ADCs) and immunostimulatory antibody conjugates intended to selectively target tumor cells while limiting damage to healthy tissue.

Sutro's pipeline has included luveltamab tazevibulin, also known as luvelta or STRO-002, a folate receptor alpha-directed ADC being investigated for the treatment of ovarian and endometrial cancers.

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