Sutro Biopharma, Inc. (NASDAQ:STRO) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Sutro Biopharma, Inc. has received a consensus rating of "Hold" from analysts, with one sell rating, four holds, and three buy ratings.
• Recent analyst reports have varied, with Bank of America lowering its price target significantly to $0.80, while Piper Sandler upgraded the stock to "overweight" with a target of $2.00.
• The company reported a loss of ($0.91) per share for the latest quarter, missing estimates, but its revenue of $17.40 million exceeded expectations of $11.61 million.

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) have received a consensus recommendation of "Hold" from the eight analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.1143.

A number of research firms have weighed in on STRO. HC Wainwright reissued a "neutral" rating and issued a $2.00 target price on shares of Sutro Biopharma in a research note on Tuesday, April 29th. Piper Sandler upgraded Sutro Biopharma from a "neutral" rating to an "overweight" rating and set a $2.00 price objective on the stock in a research report on Monday, June 16th. Finally, Bank of America dropped their target price on Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating for the company in a report on Monday, May 19th.

Sutro Biopharma Stock Performance

STRO stock remained flat at $0.80 during midday trading on Tuesday. The company's stock had a trading volume of 124,906 shares, compared to its average volume of 1,306,067. Sutro Biopharma has a 12 month low of $0.52 and a 12 month high of $5.17. The firm has a 50-day moving average price of $0.81 and a two-hundred day moving average price of $1.05. The stock has a market cap of $67.57 million, a P/E ratio of -0.27 and a beta of 1.66.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.39. The firm had revenue of $63.74 million for the quarter, compared to the consensus estimate of $14.55 million. Sutro Biopharma had a negative net margin of 373.66% and a negative return on equity of 347.60%. On average, analysts predict that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new stake in Sutro Biopharma in the first quarter valued at $25,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $26,000. Vontobel Holding Ltd. raised its holdings in Sutro Biopharma by 100.0% in the 1st quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company's stock valued at $33,000 after buying an additional 25,000 shares during the period. Savant Capital LLC acquired a new position in Sutro Biopharma in the second quarter valued at about $37,000. Finally, CWM LLC lifted its position in Sutro Biopharma by 73.2% in the second 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 last quarter. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.