Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Price Target at $47.30

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned an average recommendation of “Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $47.30.

Several brokerages have issued reports on STRO. Wedbush restated an “outperform” rating and issued a $60.00 target price on shares of Sutro Biopharma in a research note on Thursday, August 13th. Barclays assumed coverage on Sutro Biopharma in a research note on Thursday, May 28th. They set an “overweight” rating and a $56.00 price target for the company. Lifesci Capital upgraded Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a report on Wednesday, August 5th. Finally, HC Wainwright upped their price objective on shares of Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 15th.

Institutional Trading of Sutro Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Tennessee Department of Treasury bought a new position in Sutro Biopharma in the 4th quarter worth approximately $86,000. Sigma Planning Corp bought a new stake in Sutro Biopharma during the 1st quarter valued at $312,000. Bank of America Corp DE raised its holdings in Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after acquiring an additional 14,661 shares during the period. Jane Street Group LLC purchased a new stake in shares of Sutro Biopharma during the fourth quarter worth $265,000. Finally, Stempoint Capital LP purchased a new stake in shares of Sutro Biopharma during the first quarter worth $580,000. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Trading Up 8.8%

NASDAQ:STRO opened at $22.28 on Friday. The stock has a market capitalization of $369.42 million, a PE ratio of -2.02 and a beta of 1.55. The firm’s 50 day moving average is $26.80 and its 200 day moving average is $26.07. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The company had revenue of $9.84 million during the quarter, compared to analyst estimates of $11.96 million. Research analysts predict that Sutro Biopharma will post -8.83 earnings per share for the current year.

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.