Sutro Biopharma (NASDAQ:STRO) Hits New 52-Week High – What’s Next?

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) hit a new 52-week high on Wednesday . The stock traded as high as $29.66 and last traded at $30.3950, with a volume of 5480 shares traded. The stock had previously closed at $28.78.

Analysts Set New Price Targets

Several research analysts have recently commented on STRO shares. Citizens Jmp raised shares of Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 price objective for the company in a research note on Tuesday, January 20th. Citigroup raised shares of Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. Leerink Partners started coverage on shares of Sutro Biopharma in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $38.00 price objective for the company. Wells Fargo & Company raised shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Finally, Wall Street Zen raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.38.

Sutro Biopharma Price Performance

The company’s 50 day moving average price is $22.09 and its 200 day moving average price is $14.61. The firm has a market cap of $486.24 million, a PE ratio of -1.12 and a beta of 1.31.

Institutional Trading of Sutro Biopharma

Hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC raised 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 valued at $37,000 after acquiring an additional 30,000 shares in the last quarter. Invesco Ltd. raised its holdings in Sutro Biopharma by 137.8% in the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after acquiring an additional 53,390 shares in the last quarter. Cerity Partners LLC raised its holdings in Sutro Biopharma by 169.9% in the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock valued at $75,000 after acquiring an additional 66,372 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Sutro Biopharma in the second quarter valued at approximately $82,000. Finally, State of Tennessee Department of Treasury acquired a new stake in Sutro Biopharma in the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.