Sutro Biopharma’s (STRO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $12.00 price objective on the stock. HC Wainwright also issued estimates for Sutro Biopharma’s Q3 2024 earnings at ($0.65) EPS, Q4 2024 earnings at ($0.69) EPS, FY2024 earnings at ($2.82) EPS, FY2025 earnings at ($2.78) EPS, FY2026 earnings at ($2.76) EPS, FY2027 earnings at ($2.33) EPS and FY2028 earnings at ($1.37) EPS.

STRO has been the topic of several other research reports. Oppenheimer reissued an outperform rating and set a $10.00 target price on shares of Sutro Biopharma in a research report on Wednesday, May 15th. Bank of America assumed coverage on shares of Sutro Biopharma in a research report on Wednesday, May 8th. They set a buy rating and a $12.00 price objective on the stock. Finally, Wedbush restated an outperform rating and issued a $8.00 target price on shares of Sutro Biopharma in a report on Tuesday, May 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $12.13.

Sutro Biopharma Stock Up 4.2 %

Sutro Biopharma stock opened at $4.21 on Wednesday. Sutro Biopharma has a 52-week low of $2.01 and a 52-week high of $6.13. The company has a market cap of $345.05 million, a price-to-earnings ratio of -2.24 and a beta of 1.22. The firm’s fifty day moving average is $3.54 and its 200 day moving average is $4.04.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.59) EPS 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 108.90%. The firm had revenue of $25.71 million during the quarter, compared to the consensus estimate of $26.28 million. On average, equities research analysts anticipate that Sutro Biopharma will post -3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STRO. Susquehanna Fundamental Investments LLC boosted its position in Sutro Biopharma by 78.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 225,367 shares of the company’s stock valued at $660,000 after buying an additional 98,908 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Sutro Biopharma by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after acquiring an additional 7,082 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Sutro Biopharma by 691.5% in the second quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock valued at $831,000 after purchasing an additional 247,694 shares during the period. ProShare Advisors LLC grew its stake in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Sutro Biopharma by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock worth $173,000 after purchasing an additional 5,404 shares during the period. 96.99% of the stock is currently owned by institutional investors.

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.