Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) Price Target at $52.44

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $52.4444.

A number of equities analysts have recently commented on the stock. Citizens Jmp raised their target price on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 23rd. Truist Financial started coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They set a “buy” rating and a $50.00 price target for the company. Barclays started coverage on Sutro Biopharma in a research report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Friday, May 8th. Finally, Lifesci Capital raised Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st.

Sutro Biopharma Stock Up 4.9%

STRO opened at $24.01 on Tuesday. The firm has a 50-day simple moving average of $28.06 and a two-hundred day simple moving average of $24.99. Sutro Biopharma has a 52 week low of $7.15 and a 52 week high of $43.85. The company has a market capitalization of $397.85 million, a PE ratio of -2.17 and a beta of 1.51.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The company had revenue of $14.52 million for the quarter, compared to the consensus estimate of $8.89 million. As a group, sell-side analysts expect that Sutro Biopharma will post -9 earnings per share for the current year.

Institutional Trading of Sutro Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in STRO. State of Tennessee Department of Treasury acquired a new position in shares of Sutro Biopharma during the fourth quarter valued at approximately $86,000. Sigma Planning Corp purchased a new stake in shares of Sutro Biopharma during the first quarter worth $312,000. Bank of America Corp DE grew 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 acquired a new stake in shares of Sutro Biopharma in the fourth quarter valued at about $265,000. Finally, Stempoint Capital LP acquired a new stake in shares of Sutro Biopharma in the first quarter valued at about $580,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.