Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $52.44

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $52.4444.

A number of brokerages have recently weighed in on STRO. Wall Street Zen lowered shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. Citigroup reaffirmed an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Truist Financial started coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They issued a “buy” rating and a $50.00 target price on the stock. Mizuho set a $50.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, HC Wainwright upped their price target on shares of Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 15th.

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Tennessee Department of Treasury purchased a new position in Sutro Biopharma in the 4th quarter worth approximately $86,000. Sigma Planning Corp bought a new stake in Sutro Biopharma in the first quarter valued at approximately $312,000. Bank of America Corp DE boosted its stake in shares of Sutro Biopharma by 348.1% during the first quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after purchasing an additional 14,661 shares during the period. Jane Street Group LLC purchased a new stake in shares of Sutro Biopharma during the fourth quarter valued at approximately $265,000. Finally, Stempoint Capital LP bought a new position in shares of Sutro Biopharma in the first quarter worth approximately $580,000. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Price Performance

NASDAQ:STRO opened at $23.60 on Tuesday. The business has a 50 day moving average of $28.59 and a 200 day moving average of $24.82. The company has a market capitalization of $391.05 million, a price-to-earnings ratio of -2.14 and a beta of 1.51. Sutro Biopharma has a 1-year low of $7.15 and a 1-year high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last issued 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 business had revenue of $14.52 million for the quarter, compared to analyst estimates of $8.89 million. As a group, sell-side analysts anticipate that Sutro Biopharma will post -9 EPS for the current year.

About Sutro Biopharma

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.