Sutro Biopharma Inc (NASDAQ:STRO) has received a consensus rating of “Buy” from the eight analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $18.75.
A number of brokerages have recently commented on STRO. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Sutro Biopharma in a report on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating on shares of Sutro Biopharma in a report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Sutro Biopharma in a report on Monday, October 21st. BTIG Research assumed coverage on shares of Sutro Biopharma in a research report on Monday, October 7th. They issued a “buy” rating and a $19.00 target price for the company. Finally, ValuEngine raised Sutro Biopharma from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in Sutro Biopharma by 1,365.7% in the second quarter. Acadian Asset Management LLC now owns 9,058 shares of the company’s stock worth $103,000 after buying an additional 8,440 shares in the last quarter. Barclays PLC raised its stake in shares of Sutro Biopharma by 30.9% during the third quarter. Barclays PLC now owns 12,732 shares of the company’s stock worth $116,000 after acquiring an additional 3,006 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Sutro Biopharma by 9.3% during the third quarter. Rhumbline Advisers now owns 13,578 shares of the company’s stock worth $123,000 after acquiring an additional 1,156 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Sutro Biopharma by 240.7% in the 2nd quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock worth $130,000 after acquiring an additional 8,113 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Sutro Biopharma by 67.7% in the 3rd quarter. Squarepoint Ops LLC now owns 20,951 shares of the company’s stock worth $190,000 after acquiring an additional 8,456 shares during the last quarter. 47.96% of the stock is currently owned by institutional investors.
Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Friday, November 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.09. The company had revenue of $12.28 million for the quarter, compared to the consensus estimate of $8.88 million. As a group, sell-side analysts forecast that Sutro Biopharma will post -2.49 EPS for the current fiscal year.
Sutro Biopharma Company Profile
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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