Sutro Biopharma (NASDAQ:STRO) Rating Increased to Strong-Buy at Barclays

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

STRO has been the topic of a number of other reports. Wall Street Zen cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Mizuho set a $50.00 price target on shares of Sutro Biopharma and gave the company an “outperform” rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $49.11.

Sutro Biopharma Stock Performance

STRO opened at $29.63 on Thursday. The company’s 50 day simple moving average is $30.17 and its 200 day simple moving average is $19.55. Sutro Biopharma has a 1 year low of $6.74 and a 1 year high of $43.85. The stock has a market capitalization of $490.97 million, a PE ratio of -2.68 and a beta of 1.63.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $8.89 million. As a group, sell-side analysts expect that Sutro Biopharma will post -8.81 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

A number of hedge funds have recently made changes to their positions in STRO. Bridgeway Capital Management LLC raised its stake in shares of 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 purchasing an additional 30,000 shares during the period. Invesco Ltd. raised its stake in shares of 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 purchasing an additional 53,390 shares during the period. Cerity Partners LLC raised its stake in shares of 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 purchasing an additional 66,372 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Sutro Biopharma during the second quarter valued at approximately $82,000. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Sutro Biopharma during the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

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.