Sutro Biopharma (NASDAQ:STRO) Trading 11.7% Higher – What’s Next?

Sutro Biopharma, Inc. (NASDAQ:STRO) shares traded up 11.7% during trading on Thursday . The stock traded as high as $30.48 and last traded at $30.3660. 34,786 shares were traded during trading, a decline of 83% from the average session volume of 209,953 shares. The stock had previously closed at $27.18.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citizens Jmp lifted their price target on Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Friday, May 8th. Truist Financial raised Sutro Biopharma to a “strong-buy” rating in a research report on Monday, May 4th. Citigroup reissued an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Finally, Wells Fargo & Company raised Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $27.00 in a report on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sutro Biopharma presently has an average rating of “Buy” and a consensus price target of $49.11.

Sutro Biopharma Stock Down 9.0%

The firm has a market cap of $432.31 million, a price-to-earnings ratio of -2.36 and a beta of 1.54. The stock has a fifty day moving average price of $30.81 and a 200-day moving average price of $20.26.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The firm had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. As a group, research analysts expect that Sutro Biopharma, Inc. will post -9.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Tennessee Department of Treasury acquired a new position in Sutro Biopharma during the fourth quarter worth $86,000. Sigma Planning Corp acquired a new position in Sutro Biopharma during the first quarter worth $312,000. Bank of America Corp DE grew its holdings in Sutro Biopharma by 348.1% during the first quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after acquiring an additional 14,661 shares during the period. Jane Street Group LLC acquired a new position in Sutro Biopharma during the fourth quarter worth $265,000. Finally, Stempoint Capital LP acquired a new position in Sutro Biopharma during the first quarter worth $580,000. 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.