Sutro Biopharma (NASDAQ:STRO) Coverage Initiated at Leerink Partners

Equities researchers at Leerink Partners assumed coverage on shares of Sutro Biopharma (NASDAQ:STRO) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $38.00 price target on the stock. Leerink Partners’ target price would indicate a potential upside of 40.48% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. Truist Financial upgraded Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, March 25th. Wells Fargo & Company upgraded Sutro Biopharma from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Citigroup upgraded Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.38.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock opened at $27.05 on Tuesday. The business’s 50 day simple moving average is $20.54 and its 200 day simple moving average is $13.85. Sutro Biopharma has a 52-week low of $5.23 and a 52-week high of $27.81. The firm has a market cap of $448.22 million, a PE ratio of -1.04 and a beta of 1.31.

Hedge Funds Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Tennessee Department of Treasury bought a new position in shares of Sutro Biopharma in the fourth quarter valued at $86,000. Jane Street Group LLC bought a new position in shares of Sutro Biopharma in the fourth quarter valued at $265,000. Bridgeway Capital Management LLC grew its stake in shares of Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after buying an additional 30,000 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Sutro Biopharma by 51.3% during the 3rd quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock worth $104,000 after acquiring an additional 40,488 shares during the period. Finally, Shay Capital LLC boosted its stake in shares of Sutro Biopharma by 20.1% during the 3rd quarter. Shay Capital LLC now owns 312,051 shares of the company’s stock worth $271,000 after acquiring an additional 52,162 shares during the period. 96.99% of the stock is owned by institutional investors.

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.