Sutro Biopharma (NASDAQ:STRO) Stock Rating Upgraded by Wall Street Zen

Sutro Biopharma (NASDAQ:STRO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also recently commented on the company. HC Wainwright raised their price target on Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a report on Friday, May 8th. Truist Financial raised Sutro Biopharma to a “strong-buy” rating in a report on Monday, May 4th. Barclays started coverage on Sutro Biopharma in a report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 price target for the company. Finally, Mizuho set a $50.00 price objective on Sutro Biopharma and gave the stock an “outperform” rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sutro Biopharma currently has an average rating of “Buy” and a consensus target price of $49.11.

Sutro Biopharma Trading Down 9.0%

Shares of STRO stock opened at $26.09 on Friday. The business’s 50 day moving average is $30.81 and its two-hundred day moving average is $20.26. Sutro Biopharma has a twelve month low of $6.74 and a twelve month high of $43.85. The company has a market capitalization of $432.31 million, a P/E ratio of -2.36 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) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The firm had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. As a group, equities analysts predict that Sutro Biopharma will post -9.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors have recently made changes to their positions in STRO. AQR Capital Management LLC raised its holdings in shares of Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after acquiring an additional 1,206,330 shares during the last quarter. Orbimed Advisors LLC purchased a new stake in shares of Sutro Biopharma in the first quarter valued at $19,956,000. Perceptive Advisors LLC purchased a new stake in shares of Sutro Biopharma in the first quarter valued at $17,818,000. Jane Street Group LLC purchased a new stake in shares of Sutro Biopharma in the second quarter valued at $492,000. Finally, ADAR1 Capital Management LLC grew its position in shares of Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock valued at $13,064,000 after purchasing an additional 457,364 shares during the period. 96.99% of the stock is owned by institutional investors and hedge funds.

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.