Sutro Biopharma (NASDAQ:STRO) Shares Down 6.1% – Time to Sell?

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) were down 6.1% during mid-day trading on Friday . The company traded as low as $32.44 and last traded at $32.7160. Approximately 35,223 shares traded hands during trading, a decline of 80% from the average daily volume of 173,478 shares. The stock had previously closed at $34.83.

Analyst Ratings Changes

A number of equities research analysts have issued reports on STRO shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Wall Street Zen raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Leerink Partners started coverage on shares of Sutro Biopharma in a report on Tuesday, April 7th. They set an “outperform” rating and a $38.00 target price on the stock. Citigroup reissued an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Finally, Wells Fargo & Company raised shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $27.00 in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.63.

Sutro Biopharma Stock Down 6.7%

The firm’s 50-day moving average is $23.98 and its 200-day moving average is $15.49. The company has a market capitalization of $538.44 million, a PE ratio of -1.24 and a beta of 1.31.

Institutional Trading of Sutro Biopharma

Several institutional investors have recently added to or reduced their stakes in STRO. Bridgeway Capital Management LLC boosted its position in Sutro Biopharma by 232.6% during the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after buying an additional 30,000 shares during the period. Invesco Ltd. boosted its position in Sutro Biopharma by 137.8% during the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after buying an additional 53,390 shares during the period. Cerity Partners LLC boosted its position in Sutro Biopharma by 169.9% during the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock valued at $75,000 after buying an additional 66,372 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Sutro Biopharma during the second quarter valued at about $82,000. Finally, State of Tennessee Department of Treasury purchased a new stake in Sutro Biopharma during the fourth quarter valued at about $86,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.