Sutro Biopharma (NASDAQ:STRO) Given "Outperform" Rating at Wedbush

Sutro Biopharma (NASDAQ:STRO - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Wedbush in a report released on Tuesday, RTT News reports. They presently have a $8.00 price objective on the stock. Wedbush's target price points to a potential upside of 135.64% from the company's previous close.

STRO has been the subject of several other reports. Piper Sandler reiterated an "overweight" rating and set a $11.00 price objective (down from $12.00) on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Truist Financial reduced their price objective on Sutro Biopharma from $25.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, April 3rd. Oppenheimer reiterated an "outperform" rating and set a $10.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. HC Wainwright dropped their target price on Sutro Biopharma from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 26th. Finally, JMP Securities reissued a "market outperform" rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sutro Biopharma currently has an average rating of "Buy" and an average price target of $12.57.

Sutro Biopharma Stock Down 3.6 %

Shares of STRO stock traded down $0.12 during mid-day trading on Tuesday, hitting $3.40. 506,343 shares of the company's stock were exchanged, compared to its average volume of 971,941. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.13. The stock has a 50-day simple moving average of $4.36 and a two-hundred day simple moving average of $3.87. The stock has a market cap of $211.98 million, a price-to-earnings ratio of -1.91 and a beta of 0.95.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last released its quarterly earnings data on Monday, March 25th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.82) by $1.24. Sutro Biopharma had a negative return on equity of 71.42% and a negative net margin of 69.47%. The company had revenue of $113.72 million for the quarter, compared to analyst estimates of $12.16 million. As a group, analysts anticipate that Sutro Biopharma will post -3.15 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

Several hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its holdings in Sutro Biopharma by 1,275.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company's stock worth $10,775,000 after acquiring an additional 2,879,412 shares during the period. Kynam Capital Management LP grew its holdings in Sutro Biopharma by 28.9% during the 4th quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company's stock worth $8,587,000 after acquiring an additional 449,052 shares during the period. Opaleye Management Inc. acquired a new stake in Sutro Biopharma during the 4th quarter worth $1,293,000. Vontobel Holding Ltd. grew its holdings in Sutro Biopharma by 42.5% during the 4th quarter. Vontobel Holding Ltd. now owns 641,684 shares of the company's stock worth $2,753,000 after acquiring an additional 191,345 shares during the period. Finally, Sectoral Asset Management Inc. grew its holdings in Sutro Biopharma by 44.3% during the 4th quarter. Sectoral Asset Management Inc. now owns 623,684 shares of the company's stock worth $2,676,000 after acquiring an additional 191,345 shares during the period. Institutional investors and hedge funds own 96.99% of the company's stock.

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.

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