Sutro Biopharma (NASDAQ:STRO) Earns Buy Rating from Analysts at Bank of America

Bank of America began coverage on shares of Sutro Biopharma (NASDAQ:STRO - Get Free Report) in a research note issued on Wednesday, Marketbeat reports. The brokerage set a "buy" rating and a $12.00 price target on the stock. Bank of America's target price points to a potential upside of 180.37% from the stock's previous close.

Several other brokerages have also recently weighed in on STRO. Truist Financial reduced their price target on shares of Sutro Biopharma from $25.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, April 3rd. JMP Securities restated a "market outperform" rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Wedbush reiterated an "outperform" rating and set a $8.00 price target on shares of Sutro Biopharma in a report on Tuesday, April 30th. Piper Sandler reaffirmed an "overweight" rating and set a $11.00 target price (down previously from $12.00) on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Finally, HC Wainwright decreased their price target on Sutro Biopharma from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sutro Biopharma presently has an average rating of "Buy" and a consensus price target of $12.50.

Sutro Biopharma Price Performance

Shares of NASDAQ:STRO traded up $0.03 during midday trading on Wednesday, hitting $4.28. The company had a trading volume of 1,158,460 shares, compared to its average volume of 958,437. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $6.13. The company has a fifty day moving average of $4.25 and a two-hundred day moving average of $3.88. The company has a market cap of $267.24 million, a price-to-earnings ratio of -2.60 and a beta of 1.09.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings results on Monday, March 25th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of ($0.82) by $1.24. The business had revenue of $113.72 million during the quarter, compared to analysts' expectations of $12.16 million. Sutro Biopharma had a negative return on equity of 71.42% and a negative net margin of 69.47%. Research analysts expect that Sutro Biopharma will post -3.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in Sutro Biopharma by 25.6% during the fourth quarter. SG Americas Securities LLC now owns 40,779 shares of the company's stock valued at $175,000 after buying an additional 8,314 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Sutro Biopharma by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 261,451 shares of the company's stock worth $907,000 after purchasing an additional 8,633 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Sutro Biopharma by 14,125.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company's stock valued at $38,000 after purchasing an additional 8,758 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Sutro Biopharma by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company's stock valued at $154,000 after purchasing an additional 9,092 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Sutro Biopharma by 20.9% in the third quarter. Los Angeles Capital Management LLC now owns 68,324 shares of the company's stock worth $237,000 after purchasing an additional 11,800 shares in the last quarter. Institutional investors own 96.99% of the company's stock.

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.