Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Price Target at $6.63

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) has been assigned a consensus recommendation of "Hold" from the nine ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.63.

Several brokerages recently issued reports on STRO. HC Wainwright reiterated a "neutral" rating and set a $2.00 price target on shares of Sutro Biopharma in a report on Tuesday. Bank of America lowered Sutro Biopharma from a "buy" rating to an "underperform" rating and reduced their target price for the company from $11.00 to $1.00 in a report on Friday, March 14th. Piper Sandler set a $2.00 price target on Sutro Biopharma in a report on Friday, March 14th. Wedbush downgraded Sutro Biopharma from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $8.00 to $2.00 in a research note on Friday, March 14th. Finally, Citizens Jmp downgraded shares of Sutro Biopharma from an "outperform" rating to a "market perform" rating in a report on Friday, March 14th.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds have recently added to or reduced their stakes in STRO. Cerity Partners LLC purchased a new stake in shares of Sutro Biopharma in the 1st quarter worth $25,000. Dynamic Technology Lab Private Ltd purchased a new position in Sutro Biopharma in the fourth quarter valued at about $26,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Sutro Biopharma during the 4th quarter worth approximately $32,000. Vontobel Holding Ltd. lifted its holdings in shares of Sutro Biopharma by 100.0% during the 1st quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company's stock valued at $33,000 after purchasing an additional 25,000 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Sutro Biopharma by 74.3% during the 4th quarter. ProShare Advisors LLC now owns 26,961 shares of the company's stock valued at $50,000 after buying an additional 11,494 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Stock Down 6.3 %

Shares of STRO stock traded down $0.07 during trading hours on Friday, hitting $0.98. 275,303 shares of the company's stock traded hands, compared to its average volume of 1,066,048. The stock has a market cap of $83.01 million, a PE ratio of -0.61 and a beta of 1.70. The stock's 50 day simple moving average is $0.93 and its 200 day simple moving average is $1.98. Sutro Biopharma has a 12 month low of $0.52 and a 12 month high of $5.17.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.86) by ($2.10). Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. The company had revenue of $14.00 million during the quarter, compared to the consensus estimate of $10.44 million. During the same quarter in the previous year, the company earned ($1.78) earnings per share. As a group, equities research analysts expect that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

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.