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

JMP Securities reissued their market outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $17.00 price objective on the stock.

STRO has been the topic of a number of other reports. HC Wainwright reiterated a buy rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday. Truist Financial decreased their price target on Sutro Biopharma from $18.00 to $15.00 and set a buy rating on the stock in a research report on Friday, August 16th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Sutro Biopharma presently has a consensus rating of Buy and an average price target of $12.13.

Sutro Biopharma Stock Down 0.8 %

STRO opened at $3.92 on Monday. The firm has a 50-day moving average price of $4.10 and a 200-day moving average price of $4.00. Sutro Biopharma has a twelve month low of $2.01 and a twelve month high of $6.13. The company has a market capitalization of $321.28 million, a price-to-earnings ratio of -2.09 and a beta of 1.18.

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. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. The business had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.28 million. On average, sell-side analysts expect that Sutro Biopharma will post -2.96 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

Large investors have recently modified their holdings of the business. Opaleye Management Inc. bought a new stake in Sutro Biopharma during the fourth quarter valued at approximately $1,293,000. Acadian Asset Management LLC lifted its holdings in shares of Sutro Biopharma by 30.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company’s stock worth $6,803,000 after acquiring an additional 281,224 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Sutro Biopharma in the first quarter worth $714,000. Kynam Capital Management LP increased its stake in Sutro Biopharma by 28.9% in the fourth quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock valued at $8,587,000 after acquiring an additional 449,052 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Sutro Biopharma by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock worth $17,079,000 after purchasing an additional 132,790 shares during the last quarter. Institutional investors own 96.99% of the company’s stock.

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.