Sutro Biopharma (NASDAQ:STRO) Rating Increased to Buy at HC Wainwright

Sutro Biopharma (NASDAQ:STRO) was upgraded by stock analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research note issued on Tuesday,Benzinga reports. The firm currently has a $28.00 price target on the stock, up from their previous price target of $10.00. HC Wainwright’s price target would suggest a potential upside of 31.27% from the stock’s current price.

A number of other brokerages also recently commented on STRO. Citigroup upgraded Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. Citizens Jmp upgraded Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 price target for the company in a report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sutro Biopharma in a research note on Wednesday, December 17th. Wedbush reiterated a “neutral” rating and issued a $100.00 target price (up from $20.00) on shares of Sutro Biopharma in a research note on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 22nd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $34.83.

Sutro Biopharma Stock Up 3.1%

STRO stock opened at $21.33 on Tuesday. The company has a 50 day moving average of $18.13 and a two-hundred day moving average of $12.59. The company has a market cap of $181.60 million, a price-to-earnings ratio of -0.82 and a beta of 1.47. Sutro Biopharma has a 12-month low of $5.23 and a 12-month high of $26.54.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Monday, March 23rd. The company reported ($5.39) EPS for the quarter, missing the consensus estimate of ($4.66) by ($0.73). Sutro Biopharma had a negative net margin of 206.77% and a negative return on equity of 852.70%. The company had revenue of $11.65 million for the quarter, compared to analysts’ expectations of $9.26 million. On average, research analysts anticipate that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

A number of large investors have recently added to or reduced their stakes in STRO. Invesco Ltd. raised its position in shares of Sutro Biopharma by 137.8% in 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. AQR Capital Management LLC grew its stake in Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after buying an additional 1,206,330 shares during the last quarter. Strs Ohio acquired a new position in Sutro Biopharma in the 1st quarter valued at $99,000. Marshall Wace LLP bought a new position in Sutro Biopharma in the 2nd quarter worth $166,000. Finally, Cerity Partners LLC lifted its position in 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 acquiring an additional 66,372 shares during the last quarter. 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.