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

Sutro Biopharma (NASDAQ:STRO - Get Free Report) was upgraded by Piper Sandler from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has a $2.00 target price on the stock. Piper Sandler's price target suggests a potential upside of 151.95% from the stock's current price.

Several other analysts have also recently issued reports on STRO. Wedbush cut shares of Sutro Biopharma from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $8.00 to $2.00 in a research note on Friday, March 14th. HC Wainwright reaffirmed a "neutral" rating and set a $2.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, April 29th. Bank of America dropped their price objective on shares of Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating for the company in a research note on Monday, May 19th. Finally, Citizens Jmp cut shares of Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.11.

Sutro Biopharma Stock Performance

Shares of STRO traded up $0.00 during mid-day trading on Monday, hitting $0.79. 719,436 shares of the company were exchanged, compared to its average volume of 1,113,333. Sutro Biopharma has a 1-year low of $0.52 and a 1-year high of $5.17. The company has a 50 day moving average of $0.85 and a 200-day moving average of $1.37. The stock has a market cap of $67.04 million, a price-to-earnings ratio of -0.27 and a beta of 1.70.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.28). Sutro Biopharma had a negative net margin of 373.66% and a negative return on equity of 347.60%. The business had revenue of $17.40 million for the quarter, compared to analysts' expectations of $11.61 million. Research analysts anticipate that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in STRO. Rhumbline Advisers lifted its stake in shares of Sutro Biopharma by 6.1% in the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company's stock valued at $233,000 after purchasing an additional 7,320 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Sutro Biopharma by 66.7% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock valued at $46,000 after purchasing an additional 10,000 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Sutro Biopharma by 24.8% in the fourth quarter. Wells Fargo & Company MN now owns 52,738 shares of the company's stock valued at $97,000 after purchasing an additional 10,466 shares during the period. ProShare Advisors LLC lifted its stake in shares of Sutro Biopharma by 74.3% in the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company's stock valued at $50,000 after purchasing an additional 11,494 shares during the period. Finally, Parkman Healthcare Partners LLC lifted its stake in shares of Sutro Biopharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company's stock valued at $3,179,000 after purchasing an additional 11,793 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.