Shares of Sutro Biopharma Inc (NASDAQ:STRO) have received a consensus rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.60.
A number of equities research analysts have issued reports on the stock. Deutsche Bank increased their target price on shares of eBay from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. HC Wainwright set a $126.00 price target on shares of AnaptysBio and gave the company a “buy” rating in a report on Monday, June 24th. Cowen restated a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. Finally, Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th.
Several institutional investors have recently added to or reduced their stakes in the company. Sphera Funds Management LTD. raised its holdings in shares of Sutro Biopharma by 7.4% during the 1st quarter. Sphera Funds Management LTD. now owns 437,889 shares of the company’s stock valued at $4,988,000 after purchasing an additional 30,000 shares in the last quarter. BlackRock Inc. grew its stake in Sutro Biopharma by 20.5% in the 4th quarter. BlackRock Inc. now owns 409,713 shares of the company’s stock valued at $3,696,000 after buying an additional 69,813 shares during the last quarter. Jennison Associates LLC grew its stake in Sutro Biopharma by 3.6% in the 1st quarter. Jennison Associates LLC now owns 137,788 shares of the company’s stock valued at $1,569,000 after buying an additional 4,741 shares during the last quarter. Northern Trust Corp acquired a new position in Sutro Biopharma in the 4th quarter valued at $580,000. Finally, Geode Capital Management LLC acquired a new position in Sutro Biopharma in the 4th quarter valued at $456,000. Institutional investors and hedge funds own 49.00% of the company’s stock.
STRO stock traded down $0.11 during midday trading on Thursday, reaching $11.03. The company had a trading volume of 4,343 shares, compared to its average volume of 32,062. Sutro Biopharma has a 1 year low of $8.50 and a 1 year high of $15.90. The stock has a market capitalization of $255.85 million and a P/E ratio of -1.80. The company’s 50 day moving average price is $11.59.
Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Wednesday, May 15th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). The business had revenue of $8.63 million for the quarter, compared to the consensus estimate of $8.92 million. As a group, sell-side analysts predict that Sutro Biopharma will post -2.52 EPS for the current fiscal year.
About Sutro Biopharma
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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