Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $4.47 Average Target Price from Brokerages

Key Points

• Sutro Biopharma, Inc. (NASDAQ:STRO) has received an average rating of "Hold" from analysts, with one sell recommendation, four holds, and two buys.
• Currently, Sutro Biopharma's shares are trading at about $0.86, significantly below their 52-week high of $4.80.
• In its latest earnings report, Sutro Biopharma reported a revenue of $63.74 million, exceeding the consensus estimate of $14.55 million, despite a negative net margin of 201.32%.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) has been given an average recommendation of "Hold" by the seven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.4667.

A number of research firms have recently commented on STRO. Bank of America cut their price target on shares of Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating on the stock in a report on Monday, May 19th. Piper Sandler upgraded shares of Sutro Biopharma from a "neutral" rating to an "overweight" rating and set a $2.00 price target on the stock in a report on Monday, June 16th. Wells Fargo & Company cut their price target on shares of Sutro Biopharma from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Finally, Wall Street Zen cut shares of Sutro Biopharma from a "hold" rating to a "sell" rating in a report on Friday, August 22nd.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO traded down $0.04 on Friday, reaching $0.86. 262,576 shares of the company's stock traded hands, compared to its average volume of 390,661. Sutro Biopharma has a 12 month low of $0.52 and a 12 month high of $4.80. The business's 50 day simple moving average is $0.81 and its two-hundred day simple moving average is $0.91.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.25. Sutro Biopharma had a negative net margin of 201.32% and a negative return on equity of 852.70%. The business had revenue of $63.74 million during the quarter, compared to the consensus estimate of $14.55 million. Analysts expect that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

A number of institutional investors have recently made changes to their positions in the company. Cerity Partners LLC purchased a new position in shares of Sutro Biopharma during the first quarter valued at approximately $25,000. Catalyst Funds Management Pty Ltd purchased a new stake in Sutro Biopharma in the second quarter worth approximately $27,000. Vontobel Holding Ltd. grew its position in Sutro Biopharma by 100.0% in the 1st quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company's stock worth $33,000 after purchasing an additional 25,000 shares during the period. Savant Capital LLC purchased a new stake in Sutro Biopharma during the 2nd quarter valued at $37,000. Finally, CWM LLC lifted its holdings in shares of Sutro Biopharma by 73.2% during the 2nd quarter. CWM LLC now owns 56,657 shares of the company's stock valued at $40,000 after buying an additional 23,941 shares during the period. Hedge funds and other 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.