Sutro Biopharma (NASDAQ:STRO) Shares Up 5.6% - What's Next?

Key Points

• Shares of Sutro Biopharma rose about 5.6%, trading as high as $35.86 and last near $35.48, on mid-day volume (113,688) roughly 36% below the average session volume.
• Analysts are mostly positive: MarketBeat shows a consensus “Moderate Buy” with a $39.63 target, backed by several upgrades and price-target raises (e.g., Deutsche Bank to $55), with 1 Strong Buy, 7 Buy, 1 Hold and 2 Sell ratings.
• Institutional ownership is very high at 96.99%, with major moves such as AQR dramatically increasing its stake to ~1.32M shares and Two Sigma adding exposure; the company is a clinical-stage biotech (market cap ≈ $575M) using its proprietary XpressCF platform.

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) shot up 5.6% during mid-day trading on Tuesday . The stock traded as high as $35.86 and last traded at $35.48. 113,688 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 176,908 shares. The stock had previously closed at $33.59.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STRO. Deutsche Bank Aktiengesellschaft boosted their price target on Sutro Biopharma from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, March 25th. Citizens Jmp boosted their price target on Sutro Biopharma from $35.00 to $41.00 and gave the company a "market outperform" rating in a research note on Thursday, April 23rd. Truist Financial upgraded Sutro Biopharma to a "strong-buy" rating in a research note on Wednesday, March 25th. Citigroup reiterated an "outperform" rating on shares of Sutro Biopharma in a research note on Friday, April 17th. Finally, Wall Street Zen upgraded Sutro Biopharma from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.63.

Sutro Biopharma Stock Up 3.3%

The firm has a 50 day simple moving average of $24.67 and a two-hundred day simple moving average of $15.93. The stock has a market capitalization of $574.81 million, a P/E ratio of -1.33 and a beta of 1.31.

Institutional Investors Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in STRO. AQR Capital Management LLC lifted its stake in Sutro Biopharma by 1,052.8% during the first 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 bought a new stake in Sutro Biopharma during the second quarter worth $492,000. Jacobs Levy Equity Management Inc. bought a new stake in Sutro Biopharma during the third quarter worth $387,000. Two Sigma Investments LP lifted its stake 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 purchasing an additional 281,717 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Sutro Biopharma during the second quarter worth $166,000. 96.99% of the stock is currently owned by institutional investors.

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.

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