Sutro Biopharma (NASDAQ:STRO) Raised to “Market Outperform” at Citizens Jmp

Sutro Biopharma (NASDAQ:STRO) was upgraded by research analysts at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $23.00 target price on the stock. Citizens Jmp’s target price would indicate a potential upside of 66.43% from the company’s previous close.

Several other equities research analysts have also recently weighed in on STRO. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sutro Biopharma in a research note on Wednesday, December 17th. Citigroup raised Sutro Biopharma to an “outperform” rating in a research note on Tuesday. Wedbush restated a “neutral” rating and set a $100.00 price target (up previously from $20.00) on shares of Sutro Biopharma in a report on Tuesday, December 2nd. Finally, Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Sutro Biopharma presently has an average rating of “Hold” and an average target price of $31.83.

Sutro Biopharma Price Performance

Shares of STRO stock opened at $13.82 on Tuesday. The business has a 50-day moving average of $10.03 and a 200 day moving average of $9.30. Sutro Biopharma has a 1-year low of $5.23 and a 1-year high of $21.50. The stock has a market capitalization of $117.61 million, a PE ratio of -0.53 and a beta of 1.52.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.25). Sutro Biopharma had a negative net margin of 206.77% and a negative return on equity of 852.70%. The company had revenue of $9.69 million during the quarter, compared to the consensus estimate of $10.14 million. Analysts anticipate that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Catalyst Funds Management Pty Ltd purchased a new position in Sutro Biopharma during the second quarter valued at $27,000. Bridgeway Capital Management LLC lifted its position in Sutro Biopharma by 232.6% during 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. Savant Capital LLC bought a new stake in Sutro Biopharma during the second quarter worth about $37,000. CWM LLC boosted its stake in Sutro Biopharma by 73.2% during the second quarter. CWM LLC now owns 56,657 shares of the company’s stock worth $40,000 after acquiring an additional 23,941 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Sutro Biopharma by 174.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 60,617 shares of the company’s stock worth $43,000 after purchasing an additional 38,561 shares during the period. 96.99% of the stock is owned by hedge funds and other institutional investors.

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.