Sutro Biopharma (NASDAQ:STRO) Upgraded to “Strong-Buy” at Barclays

Barclays upgraded shares of Sutro Biopharma (NASDAQ:STRO) to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

STRO has been the subject of several other research reports. Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a research report on Friday, May 1st. Truist Financial raised shares of Sutro Biopharma to a “strong-buy” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Mizuho set a $50.00 target price on Sutro Biopharma and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $49.11.

Sutro Biopharma Price Performance

NASDAQ:STRO opened at $29.63 on Thursday. The firm has a 50 day simple moving average of $30.17 and a 200-day simple moving average of $19.55. The firm has a market cap of $490.97 million, a PE ratio of -2.68 and a beta of 1.63. Sutro Biopharma has a 1-year low of $6.74 and a 1-year high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last posted 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 firm had revenue of $14.52 million for the quarter, compared to analyst estimates of $8.89 million. As a group, sell-side analysts expect that Sutro Biopharma will post -8.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position 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 in the last quarter. Stempoint Capital LP acquired a new stake in shares of Sutro Biopharma in the first quarter worth $580,000. ADAR1 Capital Management LLC increased its position in shares of Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after acquiring an additional 457,364 shares in the last quarter. Orbimed Advisors LLC acquired a new stake in shares of Sutro Biopharma in the first quarter worth $19,956,000. Finally, Affinity Asset Advisors LLC increased its position in shares of Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after acquiring an additional 321,137 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.