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

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research note issued on Thursday, Benzinga reports. They currently have a $60.00 price target on the stock. Wedbush’s target price suggests a potential upside of 426.59% from the stock’s previous close.

A number of other research firms also recently commented on STRO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Sutro Biopharma from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. Wells Fargo & Company began coverage on shares of Sutro Biopharma in a research note on Wednesday, September 30th. They set an “overweight” rating and a $49.00 price objective for the company. Stifel Nicolaus set a $48.00 target price on Sutro Biopharma and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $49.50.

Sutro Biopharma Trading Up 8.3%

Shares of NASDAQ STRO traded up $0.87 on Thursday, reaching $11.39. 80,126 shares of the company traded hands, compared to its average volume of 265,664. Sutro Biopharma has a fifty-two week low of $7.15 and a fifty-two week high of $43.85. The company has a 50 day moving average of $18.38 and a 200 day moving average of $25.46. The stock has a market capitalization of $188.92 million, a PE ratio of -0.95 and a beta of 1.49.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The firm had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million. As a group, research analysts expect that Sutro Biopharma will post -8.41 earnings per share for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in Sutro Biopharma in the second quarter valued at $1,844,000. Seven Fleet Capital Management LP bought a new stake in Sutro Biopharma in the second quarter valued at $5,283,000. Wellington Management Group LLP bought a new stake in Sutro Biopharma in the second quarter valued at $359,000. Merck & Co. Inc. bought a new stake in Sutro Biopharma in the second quarter valued at $9,042,053. Finally, Bank of New York Mellon Corp bought a new stake in Sutro Biopharma in the second quarter valued at $1,373,000. 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 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.