Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $47.30

Sutro Biopharma, Inc. (NASDAQ:STRO) has been assigned an average rating of “Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $47.30.

A number of research firms have weighed in on STRO. Citigroup reiterated a “market outperform” rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Wednesday, August 5th. Citizens Jmp lowered their target price on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 13th. Truist Financial assumed coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Stifel Nicolaus set a $48.00 price objective on Sutro Biopharma and gave the company a “buy” rating in a report on Friday, August 7th.

Sutro Biopharma Price Performance

Sutro Biopharma stock opened at $16.86 on Wednesday. The business has a 50 day moving average price of $23.28 and a two-hundred day moving average price of $26.64. The stock has a market cap of $279.54 million, a price-to-earnings ratio of -1.41 and a beta of 1.48. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The firm had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. On average, analysts expect that Sutro Biopharma will post -8.41 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

Institutional investors have recently bought and sold shares of the stock. Velan Capital Investment Management LP grew its position in Sutro Biopharma by 2.0% in the third quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock valued at $2,709,000 after acquiring an additional 60,000 shares during the period. UBS Group AG lifted its holdings in shares of Sutro Biopharma by 14.0% during the third quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock valued at $1,602,000 after acquiring an additional 226,955 shares during the period. AQR Capital Management LLC boosted its stake in shares of Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after purchasing an additional 1,206,330 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in shares of Sutro Biopharma by 42.9% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after purchasing an additional 321,137 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Sutro Biopharma in the 1st quarter worth about $19,956,000. 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.