Sutro Biopharma (NASDAQ:STRO) Stock Rating Upgraded by Wells Fargo & Company

Sutro Biopharma (NASDAQ:STRO) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has a $27.00 target price on the stock, up from their previous target price of $8.00. Wells Fargo & Company‘s price target would indicate a potential upside of 26.58% from the company’s previous close.

Several other research analysts also recently commented on STRO. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sutro Biopharma in a report on Wednesday, December 17th. Citigroup upgraded shares of Sutro Biopharma to an “outperform” rating in a report on Tuesday, January 20th. Citizens Jmp raised Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 price target on the stock in a research report on Tuesday, January 20th. HC Wainwright raised Sutro Biopharma from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $28.00 in a research report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Sutro Biopharma currently has a consensus rating of “Hold” and a consensus target price of $34.33.

Sutro Biopharma Stock Up 3.1%

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

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Monday, March 23rd. The company reported ($5.39) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.65 million during the quarter, compared to the consensus estimate of $9.26 million. As a group, equities analysts expect that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Trading of Sutro Biopharma

A number of hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC increased its stake in Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after acquiring an additional 30,000 shares during the period. Invesco Ltd. boosted its holdings in 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 in the last quarter. Cerity Partners LLC boosted its holdings in 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 in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Sutro Biopharma in the 2nd quarter valued at approximately $82,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Sutro Biopharma in the 4th quarter worth approximately $86,000. 96.99% of the stock is owned by institutional investors.

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.