Sutro Biopharma (NASDAQ:STRO) Hits New 1-Year High - What's Next?

Key Points

• 52-week high: Sutro Biopharma shares reached a new 52-week high of $36.28 (last $35.98) on heavy volume, with a 50-day moving average of $25.03, a 200-day moving average of $16.12, and a market cap of about $587.4 million.
• Analyst sentiment has turned more positive with multiple upgrades (HC Wainwright, Wells Fargo, Leerink, Citigroup); the consensus is a Moderate Buy with an average price target of $39.63.
• High institutional ownership: Institutions own roughly 96.99% of the stock, with recent large inflows from firms like AQR (added ~1.2M shares), Two Sigma and new positions by Jane Street and Marshall Wace; the company is a clinical-stage biotech using the proprietary XpressCF™ platform to develop oncology and immunology biologics.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $36.28 and last traded at $35.98, with a volume of 159464 shares traded. The stock had previously closed at $34.69.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STRO. HC Wainwright upgraded Sutro Biopharma from a "neutral" rating to a "buy" rating and increased their target price for the company from $10.00 to $28.00 in a research report on Tuesday, March 24th. Wall Street Zen upgraded Sutro Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Leerink Partners began coverage on Sutro Biopharma in a report on Tuesday, April 7th. They set an "outperform" rating and a $38.00 target price for the company. Citigroup reiterated an "outperform" rating on shares of Sutro Biopharma in a research note on Friday, April 17th. Finally, Wells Fargo & Company upgraded Sutro Biopharma from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $8.00 to $27.00 in a research report on Tuesday, March 24th. One equities research 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 given a Sell rating to the company. According to MarketBeat, Sutro Biopharma currently has an average rating of "Moderate Buy" and an average price target of $39.63.

Sutro Biopharma Stock Performance

The company has a 50-day moving average of $25.03 and a 200-day moving average of $16.12. The stock has a market capitalization of $587.39 million, a price-to-earnings ratio of -1.36 and a beta of 1.31.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Sutro Biopharma by 1,052.8% during the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company's stock worth $859,000 after purchasing an additional 1,206,330 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Sutro Biopharma during the second quarter valued at approximately $492,000. Jacobs Levy Equity Management Inc. acquired a new stake in Sutro Biopharma during the third quarter worth approximately $387,000. Two Sigma Investments LP boosted its position in Sutro Biopharma by 244.8% during the third quarter. Two Sigma Investments LP now owns 396,785 shares of the company's stock worth $345,000 after acquiring an additional 281,717 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Sutro Biopharma in the 2nd quarter worth approximately $166,000. 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.

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