Sutro Biopharma (NASDAQ:STRO) Reaches New 1-Year High - Still a Buy?

Key Points

• New 52-week high: Sutro Biopharma shares hit a new 52-week high of $34.58 (volume ~201,830) and carry a MarketBeat consensus rating of Moderate Buy with a consensus target of $38.88.
• Analyst activity is mixed but tilted positive: Multiple firms raised ratings/targets (Deutsche Bank to a $55 target and "buy"; HC Wainwright and Wells Fargo also upgraded), though Weiss Ratings remains a sell; overall analyst tally is 1 Strong Buy, 7 Buy, 1 Hold and 2 Sell.
• Fundamentals and ownership: The company market cap is about $573M with a negative PE (-1.32), a 50-day/200-day moving average of $22.82/$15.03 indicating recent momentum, and roughly 96.99% of shares held by institutions and hedge funds.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.58 and last traded at $34.58, with a volume of 201830 shares traded. The stock had previously closed at $31.55.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STRO shares. Deutsche Bank Aktiengesellschaft lifted their target price on Sutro Biopharma from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, March 25th. HC Wainwright raised Sutro Biopharma from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $10.00 to $28.00 in a research report on Tuesday, March 24th. Citigroup reaffirmed an "outperform" rating on shares of Sutro Biopharma in a research report on Friday. Wells Fargo & Company raised Sutro Biopharma from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $8.00 to $27.00 in a research report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.88.

Sutro Biopharma Price Performance

The firm has a market capitalization of $572.99 million, a PE ratio of -1.32 and a beta of 1.31. The stock has a 50-day moving average price of $22.82 and a 200-day moving average price of $15.03.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds have recently bought and sold shares of STRO. Bridgeway Capital Management LLC grew its stake 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. Invesco Ltd. grew its stake in Sutro Biopharma by 137.8% in the first quarter. Invesco Ltd. now owns 92,139 shares of the company's stock worth $60,000 after purchasing an additional 53,390 shares in the last quarter. Cerity Partners LLC grew its stake in Sutro Biopharma by 169.9% in the second quarter. Cerity Partners LLC now owns 105,437 shares of the company's stock worth $75,000 after purchasing an additional 66,372 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Sutro Biopharma in the second quarter worth about $82,000. Finally, State of Tennessee Department of Treasury acquired a new position in Sutro Biopharma in the fourth quarter worth about $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.

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