Sutro Biopharma (NASDAQ:STRO) Trading Up 6.7% – Still a Buy?

Sutro Biopharma, Inc. (NASDAQ:STRO)’s stock price traded up 6.7% during trading on Tuesday . The stock traded as high as $31.56 and last traded at $32.6960. Approximately 41,598 shares traded hands during trading, a decline of 83% from the average daily volume of 245,909 shares. The stock had previously closed at $30.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STRO shares. Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Leerink Partners set a $43.00 price target on Sutro Biopharma and gave the stock an “outperform” rating in a research report on Friday, May 15th. Wells Fargo & Company upgraded shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $27.00 in a report on Tuesday, March 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.44.

Sutro Biopharma Price Performance

The firm has a market cap of $528.85 million, a price-to-earnings ratio of -2.91 and a beta of 1.51. The business has a 50-day moving average of $31.46 and a 200-day moving average of $23.38.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The company had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. As a group, equities analysts anticipate that Sutro Biopharma, Inc. will post -9 EPS for the current fiscal year.

Institutional Trading of Sutro Biopharma

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its position in Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after acquiring an additional 1,206,330 shares during the last quarter. Orbimed Advisors LLC bought a new position in shares of Sutro Biopharma in the first quarter worth about $19,956,000. Perceptive Advisors LLC bought a new position in shares of Sutro Biopharma in the first quarter worth about $17,818,000. Jane Street Group LLC acquired a new stake in shares of Sutro Biopharma in the 2nd quarter valued at approximately $492,000. Finally, ADAR1 Capital Management LLC boosted its stake in shares of Sutro Biopharma by 681.8% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.