Sutro Biopharma (NASDAQ:STRO) Trading Up 9.5% – Here’s What Happened

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) traded up 9.5% during mid-day trading on Monday . The company traded as high as $32.36 and last traded at $33.4250. 34,960 shares changed hands during trading, a decline of 85% from the average daily volume of 238,185 shares. The stock had previously closed at $30.52.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STRO. Barclays started coverage on Sutro Biopharma in a research report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 target price for the company. Truist Financial began coverage on Sutro Biopharma in a research note on Thursday, June 11th. They issued a “buy” rating and a $50.00 price objective for the company. Lifesci Capital upgraded Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft upped their target price on Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.44.

Sutro Biopharma Stock Performance

The firm has a 50 day moving average price of $31.82 and a two-hundred day moving average price of $22.80. The company has a market cap of $550.12 million, a P/E ratio of -3.01 and a beta of 1.54.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The firm had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. On average, sell-side analysts predict that Sutro Biopharma, Inc. will post -9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. State of Tennessee Department of Treasury purchased a new stake in shares of Sutro Biopharma in the fourth quarter worth $86,000. Sigma Planning Corp purchased a new position in Sutro Biopharma during the first quarter worth about $312,000. Bank of America Corp DE increased its stake in Sutro Biopharma by 348.1% in the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after acquiring an additional 14,661 shares during the last quarter. Jane Street Group LLC bought a new position in Sutro Biopharma in the 4th quarter worth about $265,000. Finally, Stempoint Capital LP purchased a new stake in shares of Sutro Biopharma in the 1st quarter valued at about $580,000. 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.