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

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $52.4444.

A number of research firms have recently weighed in on STRO. Barclays initiated coverage on Sutro Biopharma in a report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 target price on the stock. HC Wainwright upped their price target 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 assumed coverage on Sutro Biopharma in a research report on Thursday, June 11th. They issued a “buy” rating and a $50.00 price target for the company. Mizuho set a $50.00 price objective on Sutro Biopharma and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th.

Sutro Biopharma Stock Performance

Shares of NASDAQ STRO opened at $22.59 on Tuesday. Sutro Biopharma has a fifty-two week low of $7.15 and a fifty-two week high of $43.85. The stock has a market cap of $374.32 million, a price-to-earnings ratio of -2.05 and a beta of 1.51. The firm’s 50-day simple moving average is $29.57 and its 200 day simple moving average is $24.57.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. On average, sell-side analysts predict that Sutro Biopharma will post -9 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Perceptive Advisors LLC purchased a new position in Sutro Biopharma during the first quarter worth about $17,818,000. Bank of America Corp DE increased its stake 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 buying an additional 14,661 shares during the last quarter. Stempoint Capital LP bought a new position in shares of Sutro Biopharma during the 1st quarter worth approximately $580,000. ADAR1 Capital Management LLC lifted its position in shares of Sutro Biopharma by 681.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after buying an additional 457,364 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in shares of Sutro Biopharma during the 1st quarter worth approximately $19,956,000. 96.99% of the stock is owned by institutional investors.

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.