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

Key Points

• Analysts maintain a bullish outlook: Sutro Biopharma has a consensus “Buy” rating from 13 analysts, with an average 12-month price target of $49.50.
• Shares have declined significantly: STRO opened at $9.29, compared with a 52-week high of $43.85, while the company’s market capitalization stood at approximately $154 million.
• Recent results fell short of expectations: Sutro reported a quarterly loss of $2.33 per share and revenue of $9.84 million, missing analyst estimates for both earnings and revenue. Institutional investors own nearly 97% of the stock.

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) have been given a consensus recommendation of "Buy" by the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $49.50.

STRO has been the subject of several recent analyst reports. Stifel Nicolaus set a $48.00 price objective on shares of Sutro Biopharma and gave the stock a "buy" rating in a report on Friday, August 7th. HC Wainwright reissued a "buy" rating on shares of Sutro Biopharma in a research note on Friday, October 16th. Wells Fargo & Company assumed coverage on Sutro Biopharma in a report on Wednesday, September 30th. They set an "overweight" rating and a $49.00 target price on the stock. Citizens Jmp lowered their target price on Sutro Biopharma from $41.00 to $34.00 and set a "market outperform" rating for the company in a research note on Thursday, August 13th. Finally, Mizuho raised Sutro Biopharma to a "strong-buy" rating in a report on Wednesday, September 16th.

Sutro Biopharma Stock Performance

Shares of NASDAQ STRO opened at $9.29 on Thursday. Sutro Biopharma has a 52-week low of $7.15 and a 52-week high of $43.85. The business has a fifty day moving average of $15.88 and a two-hundred day moving average of $22.80. The stock has a market cap of $154.03 million, a PE ratio of -0.78 and a beta of 1.49.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its 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 analyst estimates of $11.96 million. Analysts predict that Sutro Biopharma will post -8.41 earnings per share for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of Sutro Biopharma in the second quarter valued at approximately $359,000. Sigma Planning Corp acquired a new position in Sutro Biopharma during the 1st quarter worth $312,000. Bank of America Corp DE lifted its holdings in Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company's stock worth $470,000 after buying an additional 14,661 shares in the last quarter. Stempoint Capital LP bought a new position in Sutro Biopharma in the 1st quarter valued at $580,000. Finally, Bank of New York Mellon Corp bought a new position in Sutro Biopharma in the 2nd quarter valued at $1,373,000. Institutional investors and hedge funds own 96.99% of the company's stock.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biotechnology company focused on developing medicines for cancer and other serious diseases. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture targeted biologic therapies, including antibody-drug conjugates (ADCs) and cancer immunotherapies.

Sutro's research programs have included luveltamab tazevibulin, also known as STRO-002, a folate receptor alpha-targeted ADC being investigated for ovarian and endometrial cancers.

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