HC Wainwright Reiterates Buy Rating for Sutro Biopharma (NASDAQ:STRO)

HC Wainwright reaffirmed their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a report issued on Monday, Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

Separately, Truist Financial reduced their price objective on shares of Sutro Biopharma from $18.00 to $15.00 and set a buy rating for the company in a research note on Friday, August 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $12.13.

Sutro Biopharma Price Performance

Shares of Sutro Biopharma stock opened at $3.95 on Monday. The company has a 50-day moving average of $4.10 and a 200 day moving average of $4.01. The firm has a market cap of $323.09 million, a price-to-earnings ratio of -2.10 and a beta of 1.18. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.20. The business had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.28 million. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. On average, equities analysts anticipate that Sutro Biopharma will post -2.96 EPS for the current year.

Institutional Trading of Sutro Biopharma

A number of large investors have recently made changes to their positions in STRO. Panagora Asset Management Inc. grew its stake in shares of Sutro Biopharma by 22.4% in the fourth quarter. Panagora Asset Management Inc. now owns 451,692 shares of the company’s stock worth $1,938,000 after acquiring an additional 82,544 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sutro Biopharma in the fourth quarter worth approximately $60,000. Aristides Capital LLC bought a new stake in shares of Sutro Biopharma in the fourth quarter worth approximately $217,000. Sectoral Asset Management Inc. grew its stake in shares of Sutro Biopharma by 44.3% in the fourth quarter. Sectoral Asset Management Inc. now owns 623,684 shares of the company’s stock worth $2,676,000 after acquiring an additional 191,345 shares during the period. Finally, Kynam Capital Management LP grew its stake in shares of Sutro Biopharma by 28.9% in the fourth quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock worth $8,587,000 after acquiring an additional 449,052 shares during the period. 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.