Citizens Jmp Lowers Sutro Biopharma (NASDAQ:STRO) Price Target to $34.00

Sutro Biopharma (NASDAQ:STRO) had its price target cut by research analysts at Citizens Jmp from $41.00 to $34.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 58.16% from the stock’s current price.

Several other research firms have also issued reports on STRO. Barclays started coverage on shares of Sutro Biopharma in a report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 target price on the stock. Wall Street Zen lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Stifel Nicolaus set a $48.00 price objective on Sutro Biopharma and gave the company a “buy” rating in a research note on Friday, August 7th. HC Wainwright upped their target price on Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Truist Financial started coverage on Sutro Biopharma in a report on Thursday, June 11th. They issued a “buy” rating and a $50.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sutro Biopharma has an average rating of “Buy” and an average target price of $47.30.

Sutro Biopharma Stock Up 0.9%

Sutro Biopharma stock traded up $0.20 during mid-day trading on Thursday, hitting $21.50. 33,351 shares of the stock were exchanged, compared to its average volume of 256,031. The stock has a market capitalization of $356.21 million, a price-to-earnings ratio of -1.97 and a beta of 1.55. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85. The firm’s fifty day simple moving average is $27.12 and its two-hundred day simple moving average is $25.95.

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

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Merck & Co. Inc. bought a new stake in Sutro Biopharma in the 2nd quarter valued at about $9,042,053,000. Bank of New York Mellon Corp acquired a new stake in Sutro Biopharma in the second quarter valued at approximately $1,373,000. Perceptive Advisors LLC acquired a new stake in Sutro Biopharma in the first quarter valued at approximately $17,818,000. Bank of America Corp DE increased its holdings 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 acquiring an additional 14,661 shares in the last quarter. Finally, Stempoint Capital LP bought a new stake in shares of Sutro Biopharma during the first quarter valued at approximately $580,000. Institutional investors own 96.99% of the company’s stock.

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.