Sutro Biopharma, Inc. (NASDAQ:STRO) Given Average Rating of “Buy” by Brokerages

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have received an average recommendation of “Buy” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $49.1111.

STRO has been the subject of a number of research reports. HC Wainwright lifted their target price on Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Truist Financial raised shares of Sutro Biopharma to a “strong-buy” rating in a research report on Monday, May 4th. Mizuho set a $50.00 price objective on shares of Sutro Biopharma and gave the company an “outperform” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Barclays began coverage on shares of Sutro Biopharma in a research note on Thursday. They issued an “overweight” rating and a $56.00 price objective on the stock.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings 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 buying an additional 1,206,330 shares during the period. Orbimed Advisors LLC acquired a new stake in Sutro Biopharma during the first quarter worth about $19,956,000. Perceptive Advisors LLC acquired a new stake in Sutro Biopharma during the first quarter worth about $17,818,000. Jane Street Group LLC purchased a new position in Sutro Biopharma during the second quarter valued at approximately $492,000. Finally, ADAR1 Capital Management LLC raised its position in Sutro Biopharma by 681.8% during the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock valued at $13,064,000 after acquiring an additional 457,364 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

Sutro Biopharma Price Performance

Shares of STRO stock opened at $29.23 on Monday. The business has a fifty day moving average of $30.32 and a 200 day moving average of $19.70. Sutro Biopharma has a 1 year low of $6.74 and a 1 year high of $43.85. The firm has a market capitalization of $484.34 million, a price-to-earnings ratio of -2.65 and a beta of 1.54.

Sutro Biopharma (NASDAQ:STRO) last posted 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 business had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. As a group, equities research analysts expect that Sutro Biopharma will post -8.81 earnings per share for the current year.

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.