Sutro Biopharma (NASDAQ:STRO) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note published on Monday morning, Benzinga reports. The firm currently has a $17.00 price objective on the stock.

Several other brokerages have also issued reports on STRO. HC Wainwright reiterated a buy rating and issued a $12.00 price target on shares of Sutro Biopharma in a research note on Monday. Truist Financial decreased their price target 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $12.13.

Sutro Biopharma Trading Down 17.8 %

Shares of NASDAQ STRO opened at $3.70 on Monday. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.13. The firm has a market capitalization of $303.25 million, a PE ratio of -1.97 and a beta of 1.18. The firm has a fifty day simple moving average of $4.07 and a two-hundred day simple moving average of $4.02.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.20. The company 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, sell-side analysts predict that Sutro Biopharma will post -2.96 earnings per share for the current year.

Institutional Trading of Sutro Biopharma

Institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Sutro Biopharma during the 4th quarter valued at about $60,000. ProShare Advisors LLC boosted its holdings in shares of Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after acquiring an additional 5,373 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Sutro Biopharma during the 1st quarter valued at about $92,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Sutro Biopharma by 24.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Sutro Biopharma by 27.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after acquiring an additional 7,082 shares during the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

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.