Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $4.47

Sutro Biopharma, Inc. (NASDAQ:STRO) has received an average rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $4.4667.

STRO has been the subject of a number of analyst reports. Wall Street Zen lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Wells Fargo & Company decreased their price target on shares of Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a report on Thursday. Finally, Wedbush reiterated a “neutral” rating and issued a $2.00 target price on shares of Sutro Biopharma in a research report on Friday, November 7th.

Insiders Place Their Bets

In other news, Director Connie Matsui acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were purchased at an average price of $0.80 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at $40,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 111,754 shares of company stock worth $89,601. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Sutro Biopharma

A number of large investors have recently made changes to their positions in STRO. Cerity Partners LLC bought a new stake in Sutro Biopharma in the first quarter valued at $25,000. Invesco Ltd. increased its holdings in shares of Sutro Biopharma by 137.8% during the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after acquiring an additional 53,390 shares in the last quarter. Nuveen LLC bought a new stake in Sutro Biopharma during the 1st quarter valued at about $189,000. Affinity Asset Advisors LLC bought a new stake in shares of Sutro Biopharma during the first quarter valued at approximately $490,000. Finally, State of Wyoming bought a new stake in shares of Sutro Biopharma in the 1st quarter worth $62,000. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Stock Down 2.6%

Sutro Biopharma stock opened at $0.90 on Thursday. The firm has a 50 day moving average price of $0.94 and a 200-day moving average price of $0.88. Sutro Biopharma has a twelve month low of $0.52 and a twelve month high of $3.46. The company has a market capitalization of $77.03 million, a P/E ratio of -0.35 and a beta of 1.75.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.25). The firm had revenue of $9.69 million for the quarter, compared to analysts’ expectations of $10.14 million. Sutro Biopharma had a negative net margin of 206.77% and a negative return on equity of 852.70%. Equities analysts expect that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

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.