Sutro Biopharma’s (STRO) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a report published on Thursday,Benzinga reports. They currently have a $60.00 price objective on the stock.

A number of other research firms have also recently issued reports on STRO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Sutro Biopharma from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. Citizens Jmp cut their price target on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company initiated coverage on shares of Sutro Biopharma in a research note on Wednesday, September 30th. They issued an “overweight” rating and a $49.00 price objective for the company. Finally, Mizuho raised shares of Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sutro Biopharma currently has a consensus rating of “Buy” and a consensus target price of $49.50.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $10.94 on Thursday. Sutro Biopharma has a 52 week low of $7.15 and a 52 week high of $43.85. The firm has a market capitalization of $181.39 million, a price-to-earnings ratio of -0.91 and a beta of 1.49. The company has a 50 day moving average price of $17.84 and a 200 day moving average price of $25.26.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The firm had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. Equities analysts forecast that Sutro Biopharma will post -8.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in STRO. Sigma Planning Corp bought a new stake in shares of Sutro Biopharma during the 1st quarter worth $312,000. Wellington Management Group LLP bought a new position in Sutro Biopharma in the 2nd quarter worth $359,000. Bank of America Corp DE raised its holdings 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 period. Stempoint Capital LP acquired a new position in Sutro Biopharma during the 1st quarter worth $580,000. Finally, Bank of New York Mellon Corp acquired a new position in Sutro Biopharma during the 2nd quarter worth $1,373,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary cell-free protein synthesis and protein-engineering platforms to design and manufacture complex biologic medicines, including antibody-drug conjugates (ADCs) and immuno-oncology treatments.

Sutro’s principal product candidate is luveltamab tazevibulin, also known as luvelta or STRO-002, an ADC designed to target folate receptor alpha, a protein expressed in several cancers.