Sutro Biopharma (NASDAQ:STRO) Upgraded by Mizuho to “Strong-Buy” Rating

Sutro Biopharma (NASDAQ:STRO) was upgraded by investment analysts at Mizuho to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company upgraded shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $27.00 in a research report on Tuesday, March 24th. Truist Financial upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Citizens Jmp lifted their price objective on shares of Sutro Biopharma from $35.00 to $41.00 and gave the company a “market outperform” rating in a research report on Thursday, April 23rd. Finally, HC Wainwright upgraded shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $28.00 in a research report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.78.

Sutro Biopharma Price Performance

NASDAQ:STRO opened at $36.62 on Thursday. The firm’s fifty day moving average price is $25.73 and its 200 day moving average price is $16.40. Sutro Biopharma has a 1-year low of $6.74 and a 1-year high of $39.10. The firm has a market cap of $606.79 million, a price-to-earnings ratio of -1.40 and a beta of 1.31.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC boosted its position in shares of Sutro Biopharma by 232.6% during the 3rd quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $37,000 after purchasing an additional 30,000 shares in the last quarter. Invesco Ltd. boosted its position in shares of Sutro Biopharma by 137.8% during the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after purchasing an additional 53,390 shares in the last quarter. Cerity Partners LLC boosted 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 worth $75,000 after purchasing an additional 66,372 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Sutro Biopharma during the 2nd quarter worth $82,000. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Sutro Biopharma during the 4th quarter worth $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.