HC Wainwright Issues Positive Forecast for Sutro Biopharma (NASDAQ:STRO) Stock Price

Sutro Biopharma (NASDAQ:STRO) had its price target raised by HC Wainwright from $28.00 to $50.00 in a research report released on Friday, Marketbeat reports. They currently have a buy rating on the stock.

STRO has been the topic of a number of other research reports. Leerink Partners started coverage on Sutro Biopharma in a report on Tuesday, April 7th. They issued an “outperform” rating and a $38.00 price objective on the stock. Lifesci Capital raised Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Mizuho set a $50.00 price target on Sutro Biopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Citizens Jmp boosted their price target on Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 23rd. Three 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’s stock. According to MarketBeat, Sutro Biopharma currently has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Sutro Biopharma Trading Up 1.4%

Shares of STRO opened at $38.97 on Friday. Sutro Biopharma has a twelve month low of $6.74 and a twelve month high of $43.85. The stock’s 50 day moving average is $29.19 and its two-hundred day moving average is $18.28. The firm has a market capitalization of $645.73 million, a PE ratio of -1.49 and a beta of 1.63.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to the consensus estimate of $8.89 million. On average, sell-side analysts predict that Sutro Biopharma will post -9.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Velan Capital Investment Management LP boosted its position in Sutro Biopharma by 2.0% during the 3rd 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 period. UBS Group AG boosted its position in Sutro Biopharma by 14.0% during the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock worth $1,602,000 after purchasing an additional 226,955 shares during the period. AQR Capital Management LLC boosted its position in Sutro Biopharma by 1,052.8% during the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after purchasing an additional 1,206,330 shares during the period. Affinity Asset Advisors LLC boosted its position 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 purchasing an additional 321,137 shares during the period. Finally, Orbimed Advisors LLC purchased a new stake in Sutro Biopharma during the 1st quarter worth $19,956,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.