Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $47.30 Consensus Target Price from Brokerages

Sutro Biopharma, Inc. (NASDAQ:STRO) has been assigned a consensus rating of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $47.30.

STRO has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Sutro Biopharma in a research note on Thursday, August 13th. Barclays started coverage on shares of Sutro Biopharma in a research report on Thursday, May 28th. They set an “overweight” rating and a $56.00 target price for the company. Citizens Jmp reduced their target price on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a research note on Thursday, August 13th. Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Truist Financial began coverage on shares of Sutro Biopharma in a research note on Thursday, June 11th. They set a “buy” rating and a $50.00 price target on the stock.

Sutro Biopharma Trading Down 0.6%

Shares of NASDAQ STRO opened at $21.04 on Friday. The stock has a fifty day simple moving average of $26.38 and a two-hundred day simple moving average of $26.17. Sutro Biopharma has a 1-year low of $7.15 and a 1-year high of $43.85. The firm has a market cap of $348.84 million, a price-to-earnings ratio of -1.76 and a beta of 1.55.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The business had revenue of $9.84 million during the quarter, compared to analysts’ expectations of $11.96 million. Analysts forecast that Sutro Biopharma will post -8.41 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently made changes to their positions in the stock. State of Tennessee Department of Treasury bought a new position in shares of Sutro Biopharma in the fourth quarter worth $86,000. Wellington Management Group LLP bought a new stake in shares of Sutro Biopharma during the 2nd quarter valued at $359,000. Sigma Planning Corp purchased a new stake in Sutro Biopharma during the 1st quarter worth about $312,000. Bank of America Corp DE lifted its holdings in Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after purchasing an additional 14,661 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Sutro Biopharma during the 4th quarter worth about $265,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.