Sutro Biopharma (NASDAQ:STRO) Reaches New 52-Week High on Analyst Upgrade

Sutro Biopharma, Inc. (NASDAQ:STRO) shares reached a new 52-week high during trading on Friday after HC Wainwright raised their price target on the stock from $28.00 to $50.00. HC Wainwright currently has a buy rating on the stock. Sutro Biopharma traded as high as $43.85 and last traded at $39.2410, with a volume of 28268 shares. The stock had previously closed at $38.42.

Several other equities analysts have also recently issued reports on STRO. Lifesci Capital upgraded Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Citizens Jmp upped their target price on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 23rd. Citigroup reaffirmed an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Leerink Partners initiated coverage on shares of Sutro Biopharma in a report on Tuesday, April 7th. They set an “outperform” rating and a $38.00 price target for the company. Finally, Wall Street Zen raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Sutro Biopharma presently has an average rating of “Moderate Buy” and an average target price of $43.78.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Velan Capital Investment Management LP grew its holdings in shares of Sutro Biopharma by 2.0% during the third quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock worth $2,709,000 after purchasing an additional 60,000 shares during the last quarter. UBS Group AG lifted its holdings in shares of Sutro Biopharma by 14.0% in the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock valued at $1,602,000 after purchasing an additional 226,955 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after purchasing an additional 1,206,330 shares during the period. Affinity Asset Advisors LLC grew its stake 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. Finally, Jane Street Group LLC acquired a new position in Sutro Biopharma during the second quarter worth approximately $492,000. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Stock Up 7.2%

The firm has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $18.14. The company has a market cap of $682.27 million, a price-to-earnings ratio of -1.58 and a beta of 1.63.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The firm had revenue of $14.52 million for the quarter, compared to analyst estimates of $8.89 million. As a group, research analysts expect that Sutro Biopharma, Inc. will post -9.04 EPS for the current year.

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.