Sutro Biopharma, Inc. (NASDAQ:STRO) Given Average Rating of “Moderate Buy” by Brokerages

Sutro Biopharma, Inc. (NASDAQ:STRO) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.3750.

STRO has been the subject of a number of research reports. Wall Street Zen upgraded Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Citigroup upgraded Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. Leerink Partners initiated coverage on Sutro Biopharma in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $38.00 target price for the company. Truist Financial upgraded Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company upgraded Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $8.00 to $27.00 in a research report on Tuesday, March 24th.

Sutro Biopharma Stock Down 1.4%

Shares of STRO stock opened at $29.35 on Friday. The business has a 50 day moving average of $22.09 and a two-hundred day moving average of $14.61. Sutro Biopharma has a 52 week low of $5.23 and a 52 week high of $30.50. The company has a market cap of $486.24 million, a P/E ratio of -1.12 and a beta of 1.31.

Hedge Funds Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in STRO. Bridgeway Capital Management LLC boosted its position in shares of Sutro Biopharma by 232.6% during the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $37,000 after buying an additional 30,000 shares during the period. Invesco Ltd. boosted its position in shares of Sutro Biopharma by 137.8% during the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after buying an additional 53,390 shares during the period. Cerity Partners LLC boosted its position in shares of Sutro Biopharma by 169.9% during the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after buying an additional 66,372 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Sutro Biopharma during the second quarter worth approximately $82,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Sutro Biopharma during the fourth quarter worth approximately $86,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.