Sutro Biopharma (NASDAQ:STRO) Upgraded at Lifesci Capital

Key Points

• Lifesci Capital upgraded Sutro Biopharma (NASDAQ:STRO) to a strong-buy, and multiple analysts have raised ratings and targets so the consensus is a Moderate Buy with an average price target of $40.78.
• Shares opened at $35.59, trading within a 1‑year range of $6.74–$39.10, with a market cap of $589.7M, a negative P/E, and 50‑/200‑day moving averages of $25.73 and $16.40 respectively.
• Institutional investors own about 96.99% of the stock, with recent sizable inflows — notably Invesco and AQR materially increased their positions (AQR added ~1.2M shares).

Sutro Biopharma (NASDAQ:STRO - Get Free Report) was upgraded by investment analysts at Lifesci Capital to a "strong-buy" rating in a report released on Friday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. Citigroup reissued an "outperform" rating on shares of Sutro Biopharma in a report on Friday, April 17th. Wall Street Zen raised shares of Sutro Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Mizuho set a $50.00 target price on shares of Sutro Biopharma and gave the stock an "outperform" rating in a report on Thursday. Finally, Wells Fargo & Company raised shares of Sutro Biopharma from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $8.00 to $27.00 in a research report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.78.

Sutro Biopharma Trading Down 2.8%

NASDAQ:STRO opened at $35.59 on Friday. Sutro Biopharma has a 1 year low of $6.74 and a 1 year high of $39.10. The firm has a 50 day moving average of $25.73 and a 200-day moving average of $16.40. The stock has a market capitalization of $589.66 million, a P/E ratio of -1.36 and a beta of 1.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STRO. Invesco Ltd. boosted its holdings in Sutro Biopharma by 137.8% in the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company's stock valued at $60,000 after purchasing an additional 53,390 shares during the period. AQR Capital Management LLC lifted its holdings 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 acquiring an additional 1,206,330 shares during the period. Strs Ohio bought a new stake in shares of Sutro Biopharma during the 1st quarter worth approximately $99,000. Marshall Wace LLP bought a new stake in shares of Sutro Biopharma during the 2nd quarter worth approximately $166,000. Finally, Cerity Partners LLC lifted its stake in Sutro Biopharma by 169.9% in the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company's stock valued at $75,000 after purchasing an additional 66,372 shares during the last quarter. 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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