Sutro Biopharma (NASDAQ:STRO) Shares Up 6.7% – Still a Buy?

Sutro Biopharma, Inc. (NASDAQ:STRO)’s stock price was up 6.7% during trading on Tuesday . The stock traded as high as $31.56 and last traded at $32.6960. 41,598 shares traded hands during trading, a decline of 83% from the average session volume of 245,909 shares. The stock had previously closed at $30.63.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STRO shares. Wall Street Zen lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Wells Fargo & Company raised Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $8.00 to $27.00 in a research note on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Friday, May 8th. Lifesci Capital raised Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Citigroup reaffirmed an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

Sutro Biopharma Trading Up 4.2%

The company has a market cap of $528.85 million, a price-to-earnings ratio of -2.91 and a beta of 1.51. The business has a 50-day moving average price of $31.46 and a 200 day moving average price of $23.38.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, analysts anticipate that Sutro Biopharma, Inc. will post -9 earnings per share for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Large investors have recently made changes to their positions in the company. State of Tennessee Department of Treasury acquired a new position in shares of Sutro Biopharma during the fourth quarter worth approximately $86,000. Sigma Planning Corp bought a new stake in shares of Sutro Biopharma in the 1st quarter worth about $312,000. Bank of America Corp DE increased its holdings in shares of Sutro Biopharma by 348.1% during the first quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after buying an additional 14,661 shares in the last quarter. Jane Street Group LLC bought a new position in Sutro Biopharma in the 4th quarter valued at $265,000. Finally, Stempoint Capital LP bought a new position in shares of Sutro Biopharma in the first quarter valued at about $580,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.