Sutro Biopharma (NASDAQ:STRO) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Sutro Biopharma (NASDAQ:STRO) from a neutral rating to an overweight rating in a report released on Monday morning, MarketBeat Ratings reports. They currently have $2.00 target price on the stock.

A number of other equities research analysts have also commented on the stock. Citizens Jmp lowered shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. Bank of America lowered their price target on shares of Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating for the company in a report on Monday, May 19th. HC Wainwright reiterated a “neutral” rating and set a $2.00 price target on shares of Sutro Biopharma in a report on Tuesday, April 29th. Finally, Wedbush lowered shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $2.00 in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sutro Biopharma presently has a consensus rating of “Hold” and an average price target of $6.11.

Sutro Biopharma Stock Performance

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

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.28). The business had revenue of $17.40 million during the quarter, compared to the consensus estimate of $11.61 million. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. As a group, equities research analysts predict that Sutro Biopharma will post -2.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC raised its holdings in Sutro Biopharma by 3.8% in the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock worth $13,731,000 after purchasing an additional 275,000 shares in the last quarter. RA Capital Management L.P. bought a new position in Sutro Biopharma in the 1st quarter worth $2,885,000. Acadian Asset Management LLC raised its holdings in Sutro Biopharma by 78.9% in the 1st quarter. Acadian Asset Management LLC now owns 3,134,586 shares of the company’s stock worth $2,037,000 after purchasing an additional 1,382,661 shares in the last quarter. Vestal Point Capital LP raised its holdings in Sutro Biopharma by 1.2% in the 1st quarter. Vestal Point Capital LP now owns 2,600,000 shares of the company’s stock worth $1,692,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in Sutro Biopharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company’s stock worth $3,179,000 after purchasing an additional 11,793 shares in the last quarter. 96.99% of the stock is currently 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.