Sutro Biopharma, Inc. (NASDAQ:STRO) Stock Has Average Target Price of $49.50

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have earned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $49.50.

STRO has been the topic of several research reports. Citigroup reiterated a “market outperform” rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Weiss Ratings lowered shares of Sutro Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 19th. Wall Street Zen raised shares of Sutro Biopharma from a “strong sell” rating to a “sell” rating in a research note on Saturday. Mizuho upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Wednesday, September 16th. Finally, Stifel Nicolaus set a $48.00 price target on shares of Sutro Biopharma and gave the stock a “buy” rating in a research note on Friday, August 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in Sutro Biopharma in the 2nd quarter worth about $359,000. Sigma Planning Corp acquired a new stake in shares of Sutro Biopharma during the 1st quarter valued at about $312,000. Bank of America Corp DE lifted its holdings in shares of Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after buying an additional 14,661 shares during the last quarter. Stempoint Capital LP bought a new stake in shares of Sutro Biopharma in the 1st quarter valued at approximately $580,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sutro Biopharma in the 2nd quarter valued at approximately $1,373,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Trading Down 0.4%

Shares of NASDAQ STRO opened at $9.10 on Thursday. Sutro Biopharma has a one year low of $7.15 and a one year high of $43.85. The business has a 50-day moving average price of $15.39 and a two-hundred day moving average price of $22.77. The firm has a market capitalization of $150.88 million, a PE ratio of -0.76 and a beta of 1.49.

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

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biotechnology company focused on developing medicines for cancer and other serious diseases. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture targeted biologic therapies, including antibody-drug conjugates (ADCs) and cancer immunotherapies.

Sutro’s research programs have included luveltamab tazevibulin, also known as STRO-002, a folate receptor alpha-targeted ADC being investigated for ovarian and endometrial cancers.