Sutro Biopharma’s (STRO) Outperform Rating Reaffirmed at Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $60.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 423.56% from the company’s current price.

STRO has been the subject of several other research reports. Stifel Nicolaus set a $48.00 price target on Sutro Biopharma and gave the company a “buy” rating in a research note on Friday, August 7th. Mizuho raised Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, September 16th. Citigroup reissued a “market outperform” rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Finally, Wall Street Zen cut Sutro Biopharma from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sutro Biopharma has a consensus rating of “Buy” and an average target price of $49.50.

Sutro Biopharma Stock Up 8.9%

Sutro Biopharma stock traded up $0.94 during trading hours on Thursday, hitting $11.46. The stock had a trading volume of 418,381 shares, compared to its average volume of 267,454. The stock has a market cap of $190.02 million, a price-to-earnings ratio of -0.96 and a beta of 1.49. The business’s 50 day simple moving average is $18.38 and its 200-day simple moving average is $25.46. Sutro Biopharma has a one year low of $7.15 and a one year high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly 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 firm had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. Research analysts anticipate that Sutro Biopharma will post -8.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC grew its stake in Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after acquiring an additional 321,137 shares during the period. Orbimed Advisors LLC acquired a new stake in Sutro Biopharma in the first quarter valued at approximately $19,956,000. Perceptive Advisors LLC acquired a new stake in Sutro Biopharma in the first quarter valued at approximately $17,818,000. ADAR1 Capital Management LLC grew its stake in Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock valued at $13,064,000 after acquiring an additional 457,364 shares during the period. Finally, Merck & Co. Inc. acquired a new stake in Sutro Biopharma in the second quarter valued at approximately $9,042,053. 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.