Sutro Biopharma (NASDAQ:STRO) Price Target Cut to $14.00

Sutro Biopharma (NASDAQ:STROGet Rating) had its price target decreased by equities researchers at Piper Sandler from $29.00 to $14.00 in a research report issued on Monday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 214.61% from the company’s current price.

Several other analysts also recently weighed in on the stock. JMP Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Sutro Biopharma in a report on Monday, April 11th. Zacks Investment Research raised Sutro Biopharma from a “sell” rating to a “hold” rating in a research report on Thursday, March 3rd. HC Wainwright lowered their price objective on Sutro Biopharma from $35.00 to $30.00 in a research report on Wednesday, May 11th. Finally, Wedbush cut their price target on Sutro Biopharma from $30.00 to $20.00 in a research note on Tuesday, May 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.43.

STRO stock opened at $4.45 on Monday. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 0.06. The firm has a market cap of $208.86 million, a P/E ratio of -1.80 and a beta of 1.11. The company’s 50-day simple moving average is $6.99 and its 200-day simple moving average is $10.68. Sutro Biopharma has a 52-week low of $4.36 and a 52-week high of $23.70.

Sutro Biopharma (NASDAQ:STROGet Rating) last posted its quarterly earnings results on Monday, May 9th. 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%. On average, analysts anticipate that Sutro Biopharma will post -3.11 earnings per share for the current fiscal year.

In other Sutro Biopharma news, CEO William J. Newell bought 10,000 shares of the business’s stock in a transaction on Monday, March 14th. The stock was bought at an average price of $7.75 per share, for a total transaction of $77,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. acquired a new stake in Sutro Biopharma during the 1st quarter valued at approximately $14,603,000. Suvretta Capital Management LLC boosted its holdings in shares of Sutro Biopharma by 53.1% in the first quarter. Suvretta Capital Management LLC now owns 3,732,400 shares of the company’s stock worth $30,680,000 after buying an additional 1,294,605 shares during the last quarter. State Street Corp lifted its holdings in shares of Sutro Biopharma by 66.1% in the 1st quarter. State Street Corp now owns 2,642,486 shares of the company’s stock worth $21,721,000 after acquiring an additional 1,051,649 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of Sutro Biopharma during the first quarter worth approximately $3,288,000. Finally, Eventide Asset Management LLC lifted its position in Sutro Biopharma by 14.3% in the fourth quarter. Eventide Asset Management LLC now owns 2,708,975 shares of the company’s stock valued at $40,310,000 after purchasing an additional 338,000 shares during the period. Institutional investors own 92.68% of the company’s stock.

Sutro Biopharma Company Profile (Get Rating)

Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders 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 cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

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