Sutro Biopharma (NASDAQ:STRO) Rating Increased to Overweight at Piper Sandler

Sutro Biopharma (NASDAQ:STRO - Get Free Report) was upgraded by investment analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research note issued on Monday, Marketbeat reports. The firm presently has a $2.00 price target on the stock. Piper Sandler's price target would indicate a potential upside of 127.12% from the company's current price.

A number of other equities research analysts have also weighed in on the company. Citizens Jmp lowered Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research report on Friday, March 14th. Bank of America decreased their target price on Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating for the company in a research report on Monday, May 19th. Wedbush lowered Sutro Biopharma from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $8.00 to $2.00 in a research report on Friday, March 14th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $2.00 target price on shares of Sutro Biopharma in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $6.11.

Sutro Biopharma Trading Up 10.2%

Shares of STRO stock traded up $0.08 on Monday, reaching $0.88. 1,113,416 shares of the company's stock were exchanged, compared to its average volume of 1,114,284. Sutro Biopharma has a 52 week low of $0.52 and a 52 week high of $5.17. The stock has a market capitalization of $74.38 million, a PE ratio of -0.55 and a beta of 1.70. The company's fifty day simple moving average is $0.84 and its 200 day simple moving average is $1.39.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.28). The business had revenue of $17.40 million for the quarter, compared to the consensus estimate of $11.61 million. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. As a group, sell-side analysts predict that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Suvretta Capital Management LLC increased its holdings in shares of Sutro Biopharma by 3.8% in the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company's stock valued at $13,731,000 after acquiring an additional 275,000 shares during the period. RA Capital Management L.P. purchased a new position in shares of Sutro Biopharma in the 1st quarter valued at $2,885,000. Acadian Asset Management LLC increased its holdings in shares of Sutro Biopharma by 78.9% in the 1st quarter. Acadian Asset Management LLC now owns 3,134,586 shares of the company's stock valued at $2,037,000 after acquiring an additional 1,382,661 shares during the period. Vestal Point Capital LP increased its holdings in shares of Sutro Biopharma by 1.2% in the 1st quarter. Vestal Point Capital LP now owns 2,600,000 shares of the company's stock valued at $1,692,000 after acquiring an additional 30,000 shares during the period. Finally, Parkman Healthcare Partners LLC increased its holdings in shares of Sutro Biopharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company's stock valued at $3,179,000 after acquiring an additional 11,793 shares during the period. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.