Sutro Biopharma (NASDAQ:STRO) Trading Up 10.4% After Analyst Upgrade

Key Points

• Sutro Biopharma shares jumped 10.4% intraday after Citizens JMP raised its price target from $23 to $35, and other analysts — notably Deutsche Bank (PT $55) and Wells Fargo (upgraded to overweight) — have lifted targets, leaving a MarketBeat consensus of a “Moderate Buy” with an average price target of $38.88.
• Institutional ownership is very high (96.99%); the company has a market cap of $534.4M and a negative PE, and the stock is trading well above its 50‑day ($22.09) and 200‑day ($14.61) moving averages, signaling recent upward momentum.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) shares were up 10.4% during mid-day trading on Friday after Citizens Jmp raised their price target on the stock from $23.00 to $35.00. Citizens Jmp currently has a market outperform rating on the stock. Sutro Biopharma traded as high as $32.58 and last traded at $32.3910. Approximately 120,254 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 170,307 shares. The stock had previously closed at $29.35.

Several other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Sutro Biopharma from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, March 25th. Citigroup reissued an "outperform" rating on shares of Sutro Biopharma in a research report on Friday. Wells Fargo & Company raised shares of Sutro Biopharma from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $8.00 to $27.00 in a report on Tuesday, March 24th. Wall Street Zen raised shares of Sutro Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sutro Biopharma in a report on Monday, December 22nd. One 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, Sutro Biopharma has an average rating of "Moderate Buy" and an average price target of $38.88.

Hedge Funds Weigh In On Sutro Biopharma

Hedge funds have recently modified their holdings of the business. State of Tennessee Department of Treasury purchased a new position in shares of Sutro Biopharma during the fourth quarter worth approximately $86,000. Jane Street Group LLC purchased a new position in shares of Sutro Biopharma during the fourth quarter worth approximately $265,000. Bridgeway Capital Management LLC grew its position in shares of Sutro Biopharma by 232.6% during the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company's stock worth $37,000 after acquiring an additional 30,000 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Sutro Biopharma during the fourth quarter worth approximately $776,000. Finally, Spruce Street Capital LP purchased a new position in shares of Sutro Biopharma during the fourth quarter worth approximately $875,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Sutro Biopharma Price Performance

The firm has a market capitalization of $534.43 million, a PE ratio of -1.24 and a beta of 1.31. The business's 50-day moving average price is $22.09 and its 200-day moving average price is $14.61.

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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