Sutro Biopharma (NASDAQ:STRO) Stock Rating Reaffirmed as “Outperform” by Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $60.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 441.52% from the stock’s previous close.

A number of other brokerages also recently issued reports on STRO. Stifel Nicolaus set a $48.00 price objective on shares of Sutro Biopharma and gave the stock a “buy” rating in a research note on Friday, August 7th. Citizens Jmp cut their price target on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a report on Thursday, August 13th. Wells Fargo & Company began coverage on shares of Sutro Biopharma in a research report on Wednesday, September 30th. They set an “overweight” rating and a $49.00 price target on the stock. Wall Street Zen cut shares of Sutro Biopharma from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. Finally, Mizuho raised shares of Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sutro Biopharma has an average rating of “Buy” and an average target price of $49.50.

Sutro Biopharma Price Performance

Shares of NASDAQ:STRO opened at $11.08 on Thursday. The company has a market capitalization of $183.72 million, a P/E ratio of -0.93 and a beta of 1.49. Sutro Biopharma has a 1 year low of $7.15 and a 1 year high of $43.85. The business’s 50 day simple moving average is $18.38 and its 200 day simple moving average is $25.46.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The company had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. On average, sell-side analysts anticipate that Sutro Biopharma will post -8.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Sigma Planning Corp acquired a new position in Sutro Biopharma during the 1st quarter worth approximately $312,000. Wellington Management Group LLP acquired a new stake in Sutro Biopharma in the second quarter valued at approximately $359,000. Bank of America Corp DE boosted its position in Sutro Biopharma by 348.1% in the first quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after buying an additional 14,661 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of Sutro Biopharma during the first quarter worth $580,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sutro Biopharma during the second quarter worth $1,373,000. 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 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.