Sutro Biopharma (NASDAQ:STRO) Given New $57.00 Price Target at Barclays

Sutro Biopharma (NASDAQ:STRO) had its target price increased by Barclays from $56.00 to $57.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

STRO has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating on shares of Sutro Biopharma in a research report on Friday, October 16th. Citigroup reissued a “market outperform” rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Sutro Biopharma in a research note on Thursday, October 15th. Weiss Ratings raised shares of Sutro Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Finally, Mizuho raised shares of Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sutro Biopharma currently has a consensus rating of “Buy” and a consensus price target of $49.60.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $9.82 on Friday. Sutro Biopharma has a one year low of $7.15 and a one year high of $43.85. The stock has a fifty day moving average of $13.18 and a 200 day moving average of $22.54. The stock has a market cap of $162.82 million, a PE ratio of -0.82 and a beta of 1.56.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Thursday, November 12th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($1.64) by ($0.26). The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $14.11 million. As a group, sell-side analysts predict that Sutro Biopharma will post -8.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Affinity Asset Advisors LLC raised its position in Sutro Biopharma by 42.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after buying an additional 321,137 shares during the last quarter. Orbimed Advisors LLC purchased a new position in shares of Sutro Biopharma during the first quarter worth $19,956,000. Perceptive Advisors LLC acquired a new position in Sutro Biopharma during the first quarter valued at $17,818,000. ADAR1 Capital Management LLC lifted 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 purchasing an additional 457,364 shares during the period. Finally, Merck & Co. Inc. purchased a new stake in Sutro Biopharma in the second quarter valued at $9,042,053. 96.99% of the stock is owned by institutional investors and hedge funds.

About Sutro Biopharma

Sutro Biopharma is a biotechnology company focused on discovering and developing targeted cancer treatments. Its research has centered on antibody-drug conjugates (ADCs), which use antibodies to deliver cancer-fighting drugs to selected cells. The company developed its XpressCF+ platform, a cell-free protein synthesis and site-specific conjugation technology intended to support the design and production of biologic medicines. Sutro’s clinical-stage programs have included luveltamab tazevibulin, an ADC targeting folate receptor alpha, and STRO-003, an ADC targeting ROR1.