Sutro Biopharma (NASDAQ:STRO) Trading 6.7% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STRO. Leerink Partners set a $43.00 price objective on Sutro Biopharma and gave the company an “outperform” rating in a research note on Friday, May 15th. Citigroup reaffirmed an “outperform” rating on shares of Sutro Biopharma in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Mizuho set a $50.00 price objective on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.44.

Sutro Biopharma Price Performance

The firm has a market capitalization of $527.59 million, a P/E ratio of -2.88 and a beta of 1.51. The business has a 50 day moving average price of $31.41 and a 200 day moving average price of $23.70.

Sutro Biopharma (NASDAQ:STRO) last announced its 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 during the quarter, compared to analysts’ expectations of $8.89 million. As a group, equities analysts expect that Sutro Biopharma, Inc. will post -9 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Tennessee Department of Treasury bought a new position in Sutro Biopharma during the fourth quarter worth $86,000. Sigma Planning Corp bought a new stake in Sutro Biopharma in the 1st quarter valued at $312,000. Bank of America Corp DE boosted its holdings in Sutro Biopharma by 348.1% in the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after purchasing an additional 14,661 shares during the period. Jane Street Group LLC acquired a new stake in Sutro Biopharma in the 4th quarter worth $265,000. Finally, Stempoint Capital LP acquired a new stake in Sutro Biopharma in the 1st quarter worth $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.