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

Key Points

• Wedbush reaffirmed an “outperform” rating on Sutro Biopharma with a $60 price target, implying 181.69% upside from the prior close. The stock has an average “Buy” rating and a consensus target of $48 from analysts.
• Sutro reported a quarterly loss of $2.33 per share, missing the $2.19 consensus estimate, while revenue of $9.84 million fell short of the $11.96 million forecast.
• Institutional investors own approximately 96.99% of Sutro’s shares, with several firms recently initiating or increasing positions.

Sutro Biopharma (NASDAQ:STRO - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Wedbush in a research note issued on Thursday,Benzinga reports. They currently have a $60.00 price objective on the stock. Wedbush's price target would indicate a potential upside of 181.69% from the stock's previous close.

STRO has been the subject of several other research reports. Leerink Partners set a $43.00 price objective on shares of Sutro Biopharma and gave the company an "outperform" rating in a research note on Friday, May 15th. Citigroup restated a "market outperform" rating on shares of Sutro Biopharma in a research note on Thursday. Truist Financial began coverage on Sutro Biopharma in a research report on Thursday, June 11th. They set a "buy" rating and a $50.00 price target for the company. Barclays started coverage on Sutro Biopharma in a research report on Thursday, May 28th. They issued an "overweight" rating and a $56.00 price objective on the stock. Finally, Stifel Nicolaus set a $48.00 price target on shares of Sutro Biopharma and gave the stock a "buy" rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $48.00.

Sutro Biopharma Price Performance

NASDAQ:STRO opened at $21.30 on Thursday. The firm has a 50-day moving average of $27.12 and a 200-day moving average of $25.95. The company has a market cap of $352.94 million, a PE ratio of -1.93 and a beta of 1.55. Sutro Biopharma has a one year low of $7.15 and a one year high of $43.85.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing the consensus estimate 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. On average, equities research analysts expect that Sutro Biopharma will post -9.06 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

Large investors have recently modified their holdings of the business. State of Tennessee Department of Treasury bought a new position in shares of Sutro Biopharma in the fourth quarter worth approximately $86,000. Sigma Planning Corp bought a new stake in Sutro Biopharma in the first quarter valued at approximately $312,000. Bank of America Corp DE boosted its stake in shares of Sutro Biopharma by 348.1% during the first quarter. Bank of America Corp DE now owns 18,873 shares of the company's stock valued at $470,000 after purchasing an additional 14,661 shares during the period. Jane Street Group LLC purchased a new stake in Sutro Biopharma during the 4th quarter valued at $265,000. Finally, Stempoint Capital LP bought a new stake in Sutro Biopharma in the 1st quarter worth $580,000. Institutional investors 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.

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