Sutro Biopharma (NASDAQ:STRO) Trading 11.7% Higher – Time to Buy?

Sutro Biopharma, Inc. (NASDAQ:STRO) rose 11.7% on Thursday . The company traded as high as $30.48 and last traded at $30.3660. Approximately 34,786 shares changed hands during trading, a decline of 83% from the average daily volume of 209,953 shares. The stock had previously closed at $27.18.

Analyst Ratings Changes

STRO has been the subject of a number of research analyst reports. Barclays initiated coverage on Sutro Biopharma in a report on Thursday, May 28th. They set an “overweight” rating and a $56.00 target price for the company. HC Wainwright lifted their price objective on Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Lifesci Capital raised Sutro Biopharma to a “strong-buy” rating in a research report on Friday, May 1st. Wells Fargo & Company raised Sutro Biopharma from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $27.00 in a research report on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $49.11.

Sutro Biopharma Stock Up 3.9%

The stock has a fifty day moving average of $30.66 and a two-hundred day moving average of $20.08. The stock has a market cap of $468.04 million, a price-to-earnings ratio of -2.56 and a beta of 1.54.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The company had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. On average, research analysts expect that Sutro Biopharma, Inc. will post -8.81 EPS for the current year.

Institutional Trading of Sutro Biopharma

A number of institutional investors have recently bought and sold shares of STRO. State of Tennessee Department of Treasury acquired a new position in shares of Sutro Biopharma in the fourth quarter worth $86,000. Sigma Planning Corp acquired a new position in shares of Sutro Biopharma in the first quarter worth $312,000. Bank of America Corp DE raised its holdings in shares of Sutro Biopharma by 348.1% in the first quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after acquiring an additional 14,661 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Sutro Biopharma in the fourth quarter worth $265,000. Finally, Stempoint Capital LP acquired a new position in shares of Sutro Biopharma in the first quarter worth $580,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.