Wedbush Reiterates Outperform Rating for Sutro Biopharma (NASDAQ:STRO)

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Thursday,Benzinga reports. They presently have a $60.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 181.69% from the company’s previous close.

STRO has been the topic of a number of other research reports. Wall Street Zen cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Citigroup reaffirmed a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday. Lifesci Capital upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus set a $48.00 price objective on Sutro Biopharma and gave the stock a “buy” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $48.00.

Sutro Biopharma Stock Down 14.9%

Shares of STRO stock opened at $21.30 on Thursday. The business’s fifty day moving average is $27.12 and its 200 day moving average is $25.95. The stock has a market cap of $352.94 million, a price-to-earnings ratio of -1.93 and a beta of 1.55. Sutro Biopharma has a twelve month low of $7.15 and a twelve month high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The company had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million. Equities research analysts expect that Sutro Biopharma will post -9.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC lifted its position in shares of Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $37,000 after buying 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 valued at $60,000 after acquiring an additional 53,390 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Sutro Biopharma by 169.9% in 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 in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Sutro Biopharma in the second quarter valued at $82,000. Finally, State of Tennessee Department of Treasury bought a new stake in Sutro Biopharma in the fourth quarter worth $86,000. 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.