Sutro Biopharma (NASDAQ:STRO) Raised to Buy at HC Wainwright

Sutro Biopharma (NASDAQ:STRO) was upgraded by investment analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a $28.00 target price on the stock, up from their previous target price of $10.00. HC Wainwright’s price objective would indicate a potential upside of 31.27% from the stock’s current price.

A number of other research firms also recently commented on STRO. Citigroup raised Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sutro Biopharma in a report on Wednesday, December 17th. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price objective (up from $20.00) on shares of Sutro Biopharma in a research note on Tuesday, December 2nd. Citizens Jmp upgraded shares of Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 target price on the stock in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Sutro Biopharma has an average rating of “Hold” and an average target price of $34.83.

Sutro Biopharma Trading Up 3.1%

Shares of NASDAQ:STRO opened at $21.33 on Tuesday. The company has a 50 day moving average of $18.13 and a 200-day moving average of $12.59. The firm has a market cap of $181.60 million, a P/E ratio of -0.82 and a beta of 1.47. Sutro Biopharma has a twelve month low of $5.23 and a twelve month high of $26.54.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Monday, March 23rd. The company reported ($5.39) EPS for the quarter, missing analysts’ consensus estimates of ($4.66) by ($0.73). The company had revenue of $11.65 million for the quarter, compared to analyst estimates of $9.26 million. Sutro Biopharma had a negative net margin of 206.77% and a negative return on equity of 852.70%. Equities research analysts forecast that Sutro Biopharma will post -2.92 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRO. Velan Capital Investment Management LP raised its stake in Sutro Biopharma by 2.0% during the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock valued at $2,709,000 after purchasing an additional 60,000 shares during the period. UBS Group AG boosted its position in shares of Sutro Biopharma by 14.0% in the third quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock worth $1,602,000 after buying an additional 226,955 shares during the period. AQR Capital Management LLC boosted its position in shares of Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after buying an additional 1,206,330 shares during the period. Jane Street Group LLC purchased a new position in shares of Sutro Biopharma during the second quarter valued at $492,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Sutro Biopharma in the 3rd quarter worth about $387,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.