Sutro Biopharma (NASDAQ:STRO) Upgraded by Piper Sandler to Overweight Rating

Sutro Biopharma (NASDAQ:STRO) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Monday,Finviz reports. The firm presently has a $2.00 price objective on the stock. Piper Sandler’s price objective points to a potential upside of 150.28% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Bank of America cut their price target on shares of Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating on the stock in a report on Monday, May 19th. Wedbush downgraded Sutro Biopharma from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $8.00 to $2.00 in a research report on Friday, March 14th. Citizens Jmp cut Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. Finally, HC Wainwright reiterated a “neutral” rating and set a $2.00 price target on shares of Sutro Biopharma in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Sutro Biopharma has an average rating of “Hold” and an average target price of $6.11.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock opened at $0.80 on Monday. Sutro Biopharma has a one year low of $0.52 and a one year high of $5.17. The stock has a market cap of $67.49 million, a P/E ratio of -0.50 and a beta of 1.70. The stock’s fifty day moving average is $0.84 and its 200 day moving average is $1.39.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in shares of Sutro Biopharma by 6.1% in the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock valued at $233,000 after buying an additional 7,320 shares in the last quarter. Prudential Financial Inc. grew its position in Sutro Biopharma by 351.0% in the 4th quarter. Prudential Financial Inc. now owns 547,510 shares of the company’s stock valued at $1,007,000 after acquiring an additional 426,100 shares in the last quarter. LPL Financial LLC grew its position in Sutro Biopharma by 34.2% in the 4th quarter. LPL Financial LLC now owns 362,232 shares of the company’s stock valued at $667,000 after acquiring an additional 92,333 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sutro Biopharma by 15.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company’s stock worth $2,091,000 after purchasing an additional 156,139 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Sutro Biopharma by 29.1% during the fourth quarter. American Century Companies Inc. now owns 93,033 shares of the company’s stock worth $171,000 after purchasing an additional 20,958 shares in the last quarter. Institutional investors and hedge funds 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.