Sutro Biopharma (NASDAQ:STRO) Coverage Initiated by Analysts at Leerink Partners

Key Points

• Leerink Partners initiated coverage on Sutro Biopharma with an "outperform" rating and a $38.00 price target, implying roughly a 58.7% upside from the prior close.
• Analyst consensus is a "Moderate Buy" (one Strong Buy, seven Buy, one Hold, two Sell) with a MarketBeat consensus price target of $37.38, and several firms including Deutsche Bank and Wells Fargo have recently raised ratings or targets.
• Sutro trades around $23.95 with a market cap of about $397 million and a 52-week range of $5.23–$26.54, and roughly 96.99% of the stock is held by institutional investors.

Leerink Partners began coverage on shares of Sutro Biopharma (NASDAQ:STRO - Get Free Report) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set an "outperform" rating and a $38.00 price target on the stock. Leerink Partners' price target would indicate a potential upside of 58.66% from the stock's previous close.

Several other research firms also recently commented on STRO. Wells Fargo & Company raised Sutro Biopharma from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft upped their price target on Sutro Biopharma from $51.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, March 25th. Wall Street Zen upgraded Sutro Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Citizens Jmp upgraded Sutro Biopharma from a "market perform" rating to a "market outperform" rating and set a $23.00 target price on the stock in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.38.

Sutro Biopharma Stock Up 0.7%

NASDAQ:STRO opened at $23.95 on Tuesday. The company has a market capitalization of $396.85 million, a P/E ratio of -0.92 and a beta of 1.31. Sutro Biopharma has a 52 week low of $5.23 and a 52 week high of $26.54. The stock's fifty day moving average is $20.13 and its two-hundred day moving average is $13.64.

Institutional Trading of Sutro Biopharma

Large investors have recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury purchased a new position in shares of Sutro Biopharma during the 4th quarter valued at $86,000. Jane Street Group LLC bought a new stake in Sutro Biopharma in the fourth quarter worth $265,000. Bridgeway Capital Management LLC boosted 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 worth $37,000 after purchasing an additional 30,000 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Sutro Biopharma in the fourth quarter worth $776,000. Finally, Spruce Street Capital LP bought a new stake in Sutro Biopharma in the fourth quarter worth $875,000. 96.99% of the stock is owned by institutional investors and hedge funds.

About Sutro Biopharma

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.