Sutro Biopharma (NASDAQ:STRO) Stock Price Expected to Rise, Barclays Analyst Says

Sutro Biopharma (NASDAQ:STRO) had its price objective increased by investment analysts at Barclays from $56.00 to $57.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 482.05% from the stock’s current price.

STRO has been the topic of a number of other research reports. Mizuho upgraded Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, September 16th. Wells Fargo & Company started coverage on Sutro Biopharma in a research report on Wednesday, September 30th. They set an “overweight” rating and a $49.00 target price for the company. Citigroup reissued a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Weiss Ratings upgraded Sutro Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Finally, Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Sutro Biopharma in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $49.60.

Sutro Biopharma Stock Up 2.1%

Shares of STRO traded up $0.20 during mid-day trading on Friday, hitting $9.79. 53,146 shares of the company’s stock were exchanged, compared to its average volume of 272,539. Sutro Biopharma has a 52 week low of $7.15 and a 52 week high of $43.85. The stock’s 50-day simple moving average is $13.39 and its 200-day simple moving average is $22.57. The firm has a market cap of $162.37 million, a price-to-earnings ratio of -0.82 and a beta of 1.56.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.64) by ($0.26). The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $14.11 million. Analysts forecast that Sutro Biopharma will post -8.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in shares of Sutro Biopharma during the 2nd quarter worth $1,844,000. Seven Fleet Capital Management LP acquired a new stake in Sutro Biopharma in the second quarter valued at about $5,283,000. Wellington Management Group LLP acquired a new stake in Sutro Biopharma in the second quarter valued at about $359,000. Merck & Co. Inc. acquired a new stake in Sutro Biopharma in the second quarter valued at about $9,042,053. Finally, Bank of New York Mellon Corp bought a new position in Sutro Biopharma in the second quarter valued at about $1,373,000. 96.99% of the stock is currently owned by institutional investors.

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.