Wedbush Reaffirms “Outperform” Rating for Sutro Biopharma (NASDAQ:STRO)

Wedbush reissued their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report report published on Tuesday, RTT News reports. They currently have a $8.00 target price on the stock.

A number of other research firms also recently commented on STRO. HC Wainwright dropped their target price on shares of Sutro Biopharma from $16.00 to $12.00 and set a buy rating on the stock in a report on Tuesday, March 26th. Piper Sandler reaffirmed an overweight rating and issued a $11.00 price target (down previously from $12.00) on shares of Sutro Biopharma in a report on Wednesday, April 3rd. JMP Securities reissued a market outperform rating and set a $17.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Truist Financial decreased their target price on Sutro Biopharma from $25.00 to $18.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Finally, Oppenheimer reaffirmed an outperform rating and set a $10.00 target price on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sutro Biopharma currently has an average rating of Buy and a consensus price target of $12.57.

Sutro Biopharma Stock Performance

Shares of STRO opened at $3.83 on Tuesday. Sutro Biopharma has a one year low of $2.01 and a one year high of $6.13. The stock’s fifty day moving average is $4.29 and its 200-day moving average is $3.87. The firm has a market capitalization of $239.15 million, a price-to-earnings ratio of -2.15 and a beta of 1.09.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Monday, March 25th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.82) by $1.24. Sutro Biopharma had a negative return on equity of 71.42% and a negative net margin of 69.47%. The firm had revenue of $113.72 million for the quarter, compared to analysts’ expectations of $12.16 million. Analysts forecast that Sutro Biopharma will post -3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in Sutro Biopharma by 25.6% during the 4th quarter. SG Americas Securities LLC now owns 40,779 shares of the company’s stock worth $175,000 after acquiring an additional 8,314 shares during the period. Bank of New York Mellon Corp grew its position in Sutro Biopharma by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 261,451 shares of the company’s stock valued at $907,000 after purchasing an additional 8,633 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Sutro Biopharma by 14,125.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock valued at $38,000 after purchasing an additional 8,758 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Sutro Biopharma by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock valued at $154,000 after buying an additional 9,092 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in Sutro Biopharma by 20.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 68,324 shares of the company’s stock worth $237,000 after buying an additional 11,800 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

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.