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

Piper Sandler upgraded shares of Sutro Biopharma (NASDAQ:STRO) from a neutral rating to an overweight rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. Piper Sandler currently has $2.00 target price on the stock.

STRO has been the subject of several other research reports. Bank of America reduced 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. Citizens Jmp cut shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating 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. Finally, Wedbush cut shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $8.00 to $2.00 in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.11.

Sutro Biopharma Stock Up 10.2%

STRO opened at $0.88 on Monday. The company has a market capitalization of $74.38 million, a price-to-earnings ratio of -0.55 and a beta of 1.70. The firm has a 50-day moving average price of $0.84 and a 200-day moving average price of $1.38. Sutro Biopharma has a twelve month low of $0.52 and a twelve month high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last posted its earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.28). The business had revenue of $17.40 million during the quarter, compared to analysts’ expectations of $11.61 million. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. On average, sell-side analysts expect that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of STRO. Cerity Partners LLC purchased a new position in Sutro Biopharma in the 1st quarter worth approximately $25,000. Dynamic Technology Lab Private Ltd purchased a new position in Sutro Biopharma in the 4th quarter worth approximately $26,000. Vontobel Holding Ltd. lifted its holdings in shares of Sutro Biopharma by 100.0% in the 1st quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company’s stock worth $33,000 after acquiring an additional 25,000 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Sutro Biopharma by 74.3% in the 4th quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock worth $50,000 after acquiring an additional 11,494 shares during the last quarter. Finally, Velan Capital Investment Management LP bought a new stake in shares of Sutro Biopharma in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

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.