Sutro Biopharma (NASDAQ:STRO) Coverage Initiated by Analysts at Leerink Partners

Analysts at Leerink Partners started coverage on shares of Sutro Biopharma (NASDAQ:STRO) in a research report issued on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $38.00 price target on the stock. Leerink Partners’ price objective would suggest a potential upside of 58.66% from the stock’s current price.

Several other research firms have also issued reports on STRO. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. Citigroup raised shares of Sutro Biopharma to an “outperform” rating in a report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Wells Fargo & Company raised shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Finally, Citizens Jmp raised shares of 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.38.

Sutro Biopharma Price Performance

STRO stock opened at $23.95 on Tuesday. The company has a 50-day moving average of $20.13 and a two-hundred day moving average of $13.64. The stock has a market capitalization of $396.85 million, a price-to-earnings ratio of -0.92 and a beta of 1.31. Sutro Biopharma has a 52-week low of $5.23 and a 52-week high of $26.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Tennessee Department of Treasury bought a new stake in shares of Sutro Biopharma during the 4th quarter worth approximately $86,000. Jane Street Group LLC acquired a new position in Sutro Biopharma in the 4th quarter valued at approximately $265,000. Bridgeway Capital Management LLC increased its position in Sutro Biopharma by 232.6% in the 3rd 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. Bank of America Corp DE increased its position in Sutro Biopharma by 51.3% in the 3rd quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock valued at $104,000 after acquiring an additional 40,488 shares during the period. Finally, Shay Capital LLC lifted its holdings in Sutro Biopharma by 20.1% in the third quarter. Shay Capital LLC now owns 312,051 shares of the company’s stock valued at $271,000 after buying an additional 52,162 shares during the period. Institutional investors and hedge funds 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.