Sutro Biopharma’s (STRO) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer restated their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

STRO has been the topic of a number of other reports. Piper Sandler reaffirmed an overweight rating and set a $11.00 price target (down from $12.00) on shares of Sutro Biopharma in a report on Wednesday, April 3rd. HC Wainwright restated a buy rating and set a $12.00 target price on shares of Sutro Biopharma in a research note on Tuesday. Truist Financial decreased their price objective on shares of Sutro Biopharma from $25.00 to $18.00 and set a buy rating for the company in a report on Wednesday, April 3rd. Bank of America started coverage on shares of Sutro Biopharma in a research report on Wednesday, May 8th. They issued a buy rating and a $12.00 target price for the company. Finally, JMP Securities restated a market outperform rating and issued a $17.00 price target on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sutro Biopharma has a consensus rating of Buy and an average price target of $12.50.

Sutro Biopharma Stock Performance

Shares of STRO traded up $0.23 during trading hours on Wednesday, hitting $4.16. The company had a trading volume of 412,827 shares, compared to its average volume of 929,275. Sutro Biopharma has a 52-week low of $2.01 and a 52-week high of $6.13. The firm has a fifty day moving average price of $4.17 and a 200-day moving average price of $3.94. The stock has a market capitalization of $259.75 million, a price-to-earnings ratio of -2.21 and a beta of 1.09.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Monday, March 25th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $1.24. The firm had revenue of $113.72 million for the quarter, compared to analysts’ expectations of $12.16 million. Sutro Biopharma had a negative net margin of 74.61% and a negative return on equity of 87.25%. Research analysts anticipate that Sutro Biopharma will post -3.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its holdings in Sutro Biopharma by 1,275.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after purchasing an additional 2,879,412 shares during the period. Vanguard Group Inc. lifted its position in shares of Sutro Biopharma by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after buying an additional 132,790 shares in the last quarter. Kynam Capital Management LP grew its stake in shares of Sutro Biopharma by 28.9% during the 4th quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock valued at $8,587,000 after acquiring an additional 449,052 shares during the period. Acadian Asset Management LLC increased its holdings in Sutro Biopharma by 30.5% in the 1st quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company’s stock worth $6,803,000 after acquiring an additional 281,224 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its stake in Sutro Biopharma by 1.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,202,431 shares of the company’s stock worth $5,158,000 after acquiring an additional 20,263 shares during the period. 96.99% of the stock is owned by 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.