Sutro Biopharma (NASDAQ:STRO) Trading 9.5% Higher – Should You Buy?

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) rose 9.5% during mid-day trading on Monday . The company traded as high as $32.36 and last traded at $33.4250. 34,960 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 238,185 shares. The stock had previously closed at $30.52.

Analyst Upgrades and Downgrades

STRO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Friday, May 8th. Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Truist Financial began coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They set a “buy” rating and a $50.00 price target on the stock. Barclays initiated coverage on shares of Sutro Biopharma in a research report on Thursday, May 28th. They set an “overweight” rating and a $56.00 price objective for the company. Finally, Wells Fargo & Company raised shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sutro Biopharma currently has an average rating of “Moderate Buy” and a consensus price target of $52.44.

Sutro Biopharma Stock Up 6.0%

The business’s 50-day simple moving average is $31.70 and its two-hundred day simple moving average is $22.45. The firm has a market capitalization of $536.21 million, a price-to-earnings ratio of -2.92 and a beta of 1.54.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The firm had revenue of $14.52 million for the quarter, compared to analysts’ expectations of $8.89 million. Sell-side analysts anticipate that Sutro Biopharma, Inc. will post -9.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of STRO. State of Tennessee Department of Treasury purchased a new stake in shares of Sutro Biopharma in the 4th quarter valued at $86,000. Sigma Planning Corp acquired a new position in Sutro Biopharma in the 1st quarter valued at about $312,000. Bank of America Corp DE grew its position in Sutro Biopharma by 348.1% in the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after acquiring an additional 14,661 shares in the last quarter. Jane Street Group LLC purchased a new stake in Sutro Biopharma during the fourth quarter worth about $265,000. Finally, Stempoint Capital LP purchased a new stake in Sutro Biopharma during the first quarter worth about $580,000. 96.99% of the stock is currently 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.