Sutro Biopharma (NASDAQ:STRO) Price Target Raised to $50.00 at HC Wainwright

Sutro Biopharma (NASDAQ:STRO) had its price objective hoisted by investment analysts at HC Wainwright from $28.00 to $50.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 30.14% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Truist Financial upgraded Sutro Biopharma to a “strong-buy” rating in a research note on Monday, May 4th. Citizens Jmp upped their price target on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 23rd. Wall Street Zen raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Leerink Partners assumed coverage on shares of Sutro Biopharma in a research report on Tuesday, April 7th. They issued an “outperform” rating and a $38.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.22.

Sutro Biopharma Stock Down 3.0%

Shares of STRO stock opened at $38.42 on Friday. The company has a market cap of $636.62 million, a P/E ratio of -1.47 and a beta of 1.63. The business has a 50 day moving average of $28.84 and a two-hundred day moving average of $18.14. Sutro Biopharma has a 52 week low of $6.74 and a 52 week high of $41.88.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The company had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. Analysts expect that Sutro Biopharma will post -9.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of STRO. GSA Capital Partners LLP acquired a new position in shares of Sutro Biopharma during the third quarter valued at $152,000. Bridgeway Capital Management LLC lifted its holdings in Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $37,000 after purchasing an additional 30,000 shares during the period. Qube Research & Technologies Ltd bought a new position in Sutro Biopharma in the 2nd quarter valued at about $82,000. State of Tennessee Department of Treasury acquired a new position in Sutro Biopharma during the 4th quarter valued at about $86,000. Finally, Strs Ohio acquired a new position in Sutro Biopharma during the 1st quarter valued at about $99,000. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.