Sutro Biopharma (NASDAQ:STRO) Earns “Outperform” Rating from Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research note issued to investors on Thursday, Benzinga reports. They currently have a $60.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 426.73% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus set a $48.00 price objective on shares of Sutro Biopharma and gave the company a “buy” rating in a research report on Friday, August 7th. Mizuho upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, September 16th. Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Citizens Jmp lowered 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 research report on Thursday, August 13th. Finally, Wells Fargo & Company started 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 for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $49.50.

Sutro Biopharma Trading Up 8.3%

Shares of Sutro Biopharma stock traded up $0.87 during mid-day trading on Thursday, reaching $11.39. 227,516 shares of the stock were exchanged, compared to its average volume of 266,399. Sutro Biopharma has a fifty-two week low of $7.15 and a fifty-two week high of $43.85. The company has a market cap of $188.87 million, a price-to-earnings ratio of -0.95 and a beta of 1.49. The firm has a 50-day simple moving average of $18.38 and a 200 day simple moving average of $25.46.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC bought a new position in Sutro Biopharma in the second quarter valued at approximately $1,844,000. Seven Fleet Capital Management LP bought a new position in Sutro Biopharma in the second quarter valued at approximately $5,283,000. Wellington Management Group LLP bought a new position in Sutro Biopharma in the second quarter valued at approximately $359,000. Merck & Co. Inc. bought a new position in Sutro Biopharma in the second quarter valued at approximately $9,042,053. Finally, Bank of New York Mellon Corp bought a new position in Sutro Biopharma in the second quarter valued at approximately $1,373,000. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on 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.