Sutro Biopharma (NASDAQ:STRO) Stock Keeps Outperform Rating at Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reiterated by Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $60.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 470.34% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Stifel Nicolaus set a $48.00 price target on shares of Sutro Biopharma and gave the stock a “buy” rating in a research report on Friday, August 7th. Citigroup reaffirmed a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Wells Fargo & Company began 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 on the stock. Mizuho upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, September 16th. Finally, Citizens Jmp cut their target price on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $49.50.

Sutro Biopharma Trading Down 4.5%

Shares of Sutro Biopharma stock opened at $10.52 on Thursday. Sutro Biopharma has a 1 year low of $7.15 and a 1 year high of $43.85. The company has a market cap of $174.43 million, a P/E ratio of -0.88 and a beta of 1.49. The stock has a 50-day moving average price of $18.38 and a 200 day moving average price of $25.46.

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

Hedge Funds Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STRO. Squarepoint Ops LLC bought a new stake in Sutro Biopharma in the second quarter worth approximately $1,844,000. Seven Fleet Capital Management LP acquired a new position in shares of Sutro Biopharma during the 2nd quarter worth $5,283,000. Wellington Management Group LLP acquired a new position in shares of Sutro Biopharma during the 2nd quarter worth $359,000. Merck & Co. Inc. bought a new position in shares of Sutro Biopharma during the 2nd quarter valued at $9,042,053. Finally, Bank of New York Mellon Corp bought a new position in shares of Sutro Biopharma during the 2nd quarter valued at $1,373,000. Institutional investors own 96.99% of the company’s stock.

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.