Piper Sandler Upgrades Sutro Biopharma (NASDAQ:STRO) to “Overweight”

Sutro Biopharma (NASDAQ:STRO) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday,Finviz reports. The firm presently has a $2.00 target price on the stock. Piper Sandler’s price objective suggests a potential upside of 150.28% from the stock’s previous close.

A number of other research analysts have also weighed in on STRO. Citizens Jmp lowered Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. Bank of America lowered their price objective on shares of Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating on the stock in a research note on Monday, May 19th. HC Wainwright reiterated a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a report on Tuesday, April 29th. Finally, Wedbush downgraded Sutro Biopharma from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $2.00 in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.11.

Sutro Biopharma Trading Down 1.5%

Sutro Biopharma stock opened at $0.80 on Monday. The company has a fifty day simple moving average of $0.84 and a 200-day simple moving average of $1.39. The stock has a market cap of $67.49 million, a P/E ratio of -0.50 and a beta of 1.70. Sutro Biopharma has a 12-month low of $0.52 and a 12-month high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.28). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The firm had revenue of $17.40 million for the quarter, compared to analyst estimates of $11.61 million. As a group, sell-side analysts forecast that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Sutro Biopharma in the 4th quarter worth about $26,000. Vontobel Holding Ltd. lifted its holdings in shares of Sutro Biopharma by 66.7% during the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock worth $46,000 after acquiring an additional 10,000 shares during the period. ProShare Advisors LLC boosted its position in shares of Sutro Biopharma by 74.3% in the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock worth $50,000 after acquiring an additional 11,494 shares during the last quarter. Velan Capital Investment Management LP acquired a new position in Sutro Biopharma during the fourth quarter worth approximately $55,000. Finally, Invesco Ltd. raised its stake in Sutro Biopharma by 54.2% during the fourth quarter. Invesco Ltd. now owns 38,749 shares of the company’s stock worth $71,000 after purchasing an additional 13,620 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.