Sutro Biopharma (NASDAQ:STRO) Receives New $16.00 Price Target at Piper Sandler


Sutro Biopharma (NASDAQ:STRO – Get Review) had its price target raised by Piper Sandler to $16.00 in a research note released on Monday, Stock Target Advisor reports.

A number of other brokerages have also recently released reports on STRO. Wedbush lowered its price target on Sutro Biopharma from $30.00 to $20.00 in a Tuesday, May 10 research report. JMP Securities reaffirmed a Buy rating and issued a $20.00 price target on Sutro Biopharma shares in a Monday, June 6 research note. Finally, HC Wainwright reduced its price target on Sutro Biopharma from $35.00 to $30.00 in a Wednesday, May 11 research note.

Shares of STRO opened at $5.25 on Monday. Sutro Biopharma has a 52 week low of $3.33 and a 52 week high of $23.70. The company has a debt ratio of 0.06, a quick ratio of 5.90 and a current ratio of 5.90. The company’s 50-day moving average price is $4.81 and its two-hundred-day moving average price is $8.03. The company has a market capitalization of $246.40 million, a PE ratio of -2.13 and a beta of 0.91.

Sutro Biopharma (NASDAQ:STRO – Get Rating) last released quarterly earnings data on Monday, May 9. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.08). Sutro Biopharma had a negative net margin of 215.16% and a negative return on equity of 42.97%. Research analysts predict that Sutro Biopharma will post EPS of -3.27 for the current fiscal year.

A number of institutional investors and hedge funds have recently changed their holdings of STROs. Suvretta Capital Management LLC increased its stake in Sutro Biopharma by 53.1% during the first quarter. Suvretta Capital Management LLC now owns 3,732,400 shares of the company valued at $30,680,000 after purchasing an additional 1,294,605 ​​shares in the last quarter. BlackRock Inc. increased its position in Sutro Biopharma by 0.8% in the 1st quarter. BlackRock Inc. now owns 3,728,829 shares of the company valued at $30,650,000 after acquiring 28,786 additional shares last quarter. Eventide Asset Management LLC increased its position in Sutro Biopharma shares by 14.3% in the 4th quarter. Eventide Asset Management LLC now owns 2,708,975 shares of the company worth $40,310,000 after purchasing an additional 338,000 shares in the last quarter. State Street Corp increased its position in Sutro Biopharma shares by 66.1% in the first quarter. State Street Corp now owns 2,642,486 shares of the company worth $21,721,000 after purchasing an additional 1,051,649 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Sutro Biopharma shares by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,230,997 shares of the company worth $18,338,000 after purchasing an additional 113,190 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s shares.

About Sutro Biopharma (Get a rating)

Sutro Biopharma, Inc. operates as a clinical-stage drug discovery, development and manufacturing company. It focuses on creating therapeutic proteins for cancer and autoimmune diseases through integrated cell-free protein synthesis and site-specific conjugation platform, XpressCF+. The Company’s product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the CD74 cancer target for patients with multiple myeloma and non-Hodgkin’s lymphoma in Phase 1 clinical trials; and STRO-002, a folate receptor alpha-directed ADC for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

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