Sutro Biopharma (NASDAQ:STRO) Price Target Raised to $10.00

Sutro Biopharma (NASDAQ:STRO) had its target price hoisted by HC Wainwright to $10.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. Wedbush restated a “neutral” rating and set a $100.00 price target (up previously from $20.00) on shares of Sutro Biopharma in a report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 15th. Wall Street Zen lowered shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sutro Biopharma in a report on Wednesday, December 17th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.60.

Sutro Biopharma Trading Up 2.4%

Shares of NASDAQ:STRO opened at $10.63 on Monday. The company has a market cap of $90.46 million, a price-to-earnings ratio of -0.41 and a beta of 1.61. Sutro Biopharma has a 12 month low of $5.23 and a 12 month high of $21.50. The company has a 50-day moving average price of $9.53 and a 200 day moving average price of $8.81.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.25). The company had revenue of $9.69 million for the quarter, compared to the consensus estimate of $10.14 million. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 206.77%. As a group, equities analysts forecast that Sutro Biopharma will post -2.92 EPS for the current year.

Insiders Place Their Bets

In related news, Director Connie Matsui acquired 5,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was bought at an average cost of $8.00 per share, with a total value of $40,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $40,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have bought 11,175 shares of company stock worth $89,598. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of STRO. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Sutro Biopharma in the 3rd quarter worth $387,000. Velan Capital Investment Management LP boosted its holdings in Sutro Biopharma by 2.0% in the third quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock worth $2,709,000 after acquiring an additional 60,000 shares in the last quarter. Bank of America Corp DE boosted its holdings in Sutro Biopharma by 51.3% in the third quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock worth $104,000 after acquiring an additional 40,488 shares in the last quarter. Shay Capital LLC grew its stake in shares of Sutro Biopharma by 20.1% during the third quarter. Shay Capital LLC now owns 312,051 shares of the company’s stock worth $271,000 after acquiring an additional 52,162 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Sutro Biopharma by 244.8% during the third quarter. Two Sigma Investments LP now owns 396,785 shares of the company’s stock valued at $345,000 after acquiring an additional 281,717 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.