Sutro Biopharma (NASDAQ:STRO) Price Target Cut to $20.00

Sutro Biopharma (NASDAQ:STROGet Rating) had its price objective cut by HC Wainwright from $30.00 to $20.00 in a report released on Wednesday, The Fly reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 171.37% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $15.00 price target on shares of Sutro Biopharma in a research report on Thursday, August 18th. Truist Financial cut their target price on Sutro Biopharma from $37.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $20.29.

Sutro Biopharma Price Performance

Shares of NASDAQ:STRO opened at $7.37 on Wednesday. The firm has a market capitalization of $384.43 million, a PE ratio of -2.85 and a beta of 1.00. The company has a current ratio of 7.44, a quick ratio of 7.44 and a debt-to-equity ratio of 0.05. Sutro Biopharma has a 1-year low of $3.33 and a 1-year high of $22.00. The business’s 50 day moving average is $6.06 and its 200-day moving average is $5.64.

Sutro Biopharma (NASDAQ:STROGet Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.19. The firm had revenue of $28.10 million for the quarter, compared to analyst estimates of $13.64 million. Sutro Biopharma had a negative net margin of 252.33% and a negative return on equity of 55.57%. Sell-side analysts predict that Sutro Biopharma will post -2.35 earnings per share for the current year.

Institutional Investors Weigh In On Sutro Biopharma

A number of large investors have recently bought and sold shares of STRO. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Sutro Biopharma during the first quarter worth $42,000. Amalgamated Bank acquired a new stake in Sutro Biopharma in the 1st quarter valued at about $44,000. Prospera Financial Services Inc bought a new position in shares of Sutro Biopharma in the first quarter worth about $50,000. Quantbot Technologies LP bought a new position in shares of Sutro Biopharma in the third quarter worth about $37,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Sutro Biopharma during the first quarter valued at approximately $56,000. 88.75% of the stock is currently owned by institutional investors.

Sutro Biopharma Company Profile

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Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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