Wedbush Reaffirms Outperform Rating for Sutro Biopharma (NASDAQ:STRO)

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $60.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 432.15% from the company’s previous close.

Other research analysts also recently issued reports about the company. Mizuho raised Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, September 16th. Wall Street Zen downgraded Sutro Biopharma from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Citizens Jmp dropped their price target on Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 13th. Finally, Stifel Nicolaus set a $48.00 price target on Sutro Biopharma and gave the stock a “buy” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $49.50.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO traded up $0.76 during midday trading on Thursday, reaching $11.28. The company’s stock had a trading volume of 178,265 shares, compared to its average volume of 266,141. The firm has a market capitalization of $186.95 million, a price-to-earnings ratio of -0.94 and a beta of 1.49. The firm has a 50 day moving average price of $18.38 and a two-hundred day moving average price of $25.46. Sutro Biopharma has a fifty-two week low of $7.15 and a fifty-two week high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts anticipate that Sutro Biopharma will post -8.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STRO. Orbimed Advisors LLC purchased a new stake in shares of Sutro Biopharma in the first quarter worth approximately $19,956,000. Perceptive Advisors LLC purchased a new stake in shares of Sutro Biopharma in the first quarter worth approximately $17,818,000. ADAR1 Capital Management LLC raised its stake in shares of Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after purchasing an additional 457,364 shares during the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after purchasing an additional 321,137 shares during the last quarter. Finally, Merck & Co. Inc. purchased a new stake in shares of Sutro Biopharma in the second quarter worth approximately $9,042,053. 96.99% of the stock is owned by institutional investors.

About Sutro Biopharma

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.