Sutro Biopharma’s (STRO) “Buy” Rating Reaffirmed at Truist Financial

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a report released on Thursday,Benzinga reports. They presently have a $50.00 target price on the stock. Truist Financial’s target price would suggest a potential upside of 91.64% from the company’s previous close.

A number of other analysts also recently weighed in on STRO. HC Wainwright upped their target price on Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Leerink Partners set a $43.00 target price on Sutro Biopharma and gave the company an “outperform” rating in a report on Friday, May 15th. Wells Fargo & Company raised Sutro Biopharma from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Barclays assumed coverage on shares of Sutro Biopharma in a report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.20.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $26.09 on Thursday. Sutro Biopharma has a 52-week low of $6.74 and a 52-week high of $43.85. The stock’s 50-day simple moving average is $30.89 and its 200 day simple moving average is $20.70. The company has a market cap of $432.31 million, a P/E ratio of -2.36 and a beta of 1.54.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The firm had revenue of $14.52 million during the quarter, compared to the consensus estimate of $8.89 million. As a group, equities analysts predict that Sutro Biopharma will post -9.29 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

A number of hedge funds have recently made changes to their positions in STRO. Invesco Ltd. increased its stake in shares of Sutro Biopharma by 137.8% in the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after buying an additional 53,390 shares during the period. AQR Capital Management LLC grew its stake in Sutro Biopharma by 1,052.8% during the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after purchasing an additional 1,206,330 shares during the period. Strs Ohio bought a new stake in shares of Sutro Biopharma during the first quarter valued at approximately $99,000. Marshall Wace LLP bought a new position in shares of Sutro Biopharma in the second quarter valued at $166,000. Finally, Cerity Partners LLC raised its stake in shares of Sutro Biopharma by 169.9% in the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after purchasing an additional 66,372 shares during the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

About Sutro Biopharma

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.