Sutro Biopharma (NASDAQ:STRO) Given “Buy” Rating at Truist Financial

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Truist Financial in a research report issued on Thursday,Benzinga reports. They presently have a $50.00 target price on the stock. Truist Financial’s price target would suggest a potential upside of 91.64% from the stock’s current price.

Several other research analysts have also commented on STRO. Citizens Jmp boosted their price objective on Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a report on Thursday, April 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Wells Fargo & Company upgraded Sutro Biopharma from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $8.00 to $27.00 in a report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.20.

Sutro Biopharma Stock Up 1.2%

Shares of NASDAQ:STRO opened at $26.09 on Thursday. The firm has a market capitalization of $432.31 million, a PE ratio of -2.36 and a beta of 1.54. The company has a 50-day moving average price of $30.89 and a two-hundred day moving average price of $20.70. Sutro Biopharma has a twelve month low of $6.74 and a twelve month high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The company had revenue of $14.52 million for the quarter, compared to analyst estimates of $8.89 million. Analysts anticipate that Sutro Biopharma will post -9.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds have recently added to or reduced their stakes in STRO. GSA Capital Partners LLP bought a new position in Sutro Biopharma in the 3rd quarter worth about $152,000. Marshall Wace LLP purchased a new position in shares of Sutro Biopharma in the 2nd quarter worth $166,000. Strs Ohio purchased a new position in Sutro Biopharma in the first quarter worth about $99,000. State of Tennessee Department of Treasury bought a new stake in Sutro Biopharma during the fourth quarter valued at approximately $86,000. Finally, Cerity Partners LLC grew its position in shares of Sutro Biopharma by 169.9% during the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock valued at $75,000 after acquiring an additional 66,372 shares during the period. 96.99% of the stock is owned by institutional investors.

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.