Sutro Biopharma (NASDAQ:STRO) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Key Points

• Citizens Jmp raised its price target on Sutro Biopharma to $35 (from $23) and kept a "market outperform" rating, while multiple other firms have raised targets or upgraded ratings, producing a consensus target of about $38.88 and an average rating of "Moderate Buy".
• Shares opened near $29.76 with a market cap around $493M; institutional ownership is roughly 96.99% and recent notable inflows include AQR dramatically increasing its stake.
• Sutro is a clinical-stage biopharma that leverages a proprietary XpressCF™ cell-free protein synthesis platform to develop multi‑specific biologics for oncology and immunology.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) had its price target raised by stock analysts at Citizens Jmp from $23.00 to $35.00 in a report released on Friday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price objective would suggest a potential upside of 17.63% from the company's current price.

Several other research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Sutro Biopharma from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, March 25th. HC Wainwright upgraded Sutro Biopharma from a "neutral" rating to a "buy" rating and boosted their price target for the company from $10.00 to $28.00 in a research note on Tuesday, March 24th. Wells Fargo & Company raised Sutro Biopharma from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $8.00 to $27.00 in a report on Tuesday, March 24th. Leerink Partners started coverage on shares of Sutro Biopharma in a report on Tuesday, April 7th. They set an "outperform" rating and a $38.00 target price for the company. Finally, Citigroup reiterated an "outperform" rating on shares of Sutro Biopharma in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued 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 company has an average rating of "Moderate Buy" and a consensus target price of $38.88.

Sutro Biopharma Trading Up 1.4%

Shares of NASDAQ STRO opened at $29.76 on Friday. The firm has a 50 day moving average of $22.09 and a 200 day moving average of $14.61. The firm has a market capitalization of $492.95 million, a price-to-earnings ratio of -1.14 and a beta of 1.31. Sutro Biopharma has a 12-month low of $5.23 and a 12-month high of $30.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STRO. AQR Capital Management LLC raised its stake in shares of 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 acquired a new stake in shares of Sutro Biopharma in the 2nd quarter worth $492,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Sutro Biopharma in the third quarter valued at about $387,000. Two Sigma Investments LP increased its stake in shares of 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 period. Finally, Marshall Wace LLP purchased a new position in Sutro Biopharma during the second quarter worth about $166,000. 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.

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