Sutro Biopharma (NASDAQ:STRO) Stock Price Target Raised at Barclays

Sutro Biopharma (NASDAQ:STRO) had its target price boosted by equities researchers at Barclays from $56.00 to $57.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 482.05% from the stock’s previous close.

A number of other brokerages also recently weighed in on STRO. Stifel Nicolaus set a $48.00 target price on shares of Sutro Biopharma and gave the stock a “buy” rating in a report on Friday, August 7th. HC Wainwright reissued a “buy” rating on shares of Sutro Biopharma in a research report on Friday, October 16th. Citizens Jmp lowered their price objective on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of Sutro Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, November 4th. Finally, Wall Street Zen cut Sutro Biopharma from a “sell” rating to a “strong sell” rating in a report on Sunday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sutro Biopharma currently has an average rating of “Buy” and an average price target of $49.60.

Sutro Biopharma Price Performance

STRO stock traded up $0.20 during mid-day trading on Friday, reaching $9.79. The company had a trading volume of 53,146 shares, compared to its average volume of 272,539. The stock has a 50 day simple moving average of $13.39 and a two-hundred day simple moving average of $22.57. The company has a market capitalization of $162.37 million, a price-to-earnings ratio of -0.82 and a beta of 1.56. Sutro Biopharma has a 52 week low of $7.15 and a 52 week high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.64) by ($0.26). The firm had revenue of $9.10 million during the quarter, compared to the consensus estimate of $14.11 million. On average, equities analysts predict that Sutro Biopharma will post -8.12 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Affinity Asset Advisors LLC boosted its holdings in shares of Sutro Biopharma by 42.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after buying an additional 321,137 shares during the period. Orbimed Advisors LLC bought a new position in Sutro Biopharma in the 1st quarter valued at about $19,956,000. Perceptive Advisors LLC acquired a new stake in Sutro Biopharma during the first quarter worth approximately $17,818,000. ADAR1 Capital Management LLC lifted its position in Sutro Biopharma by 681.8% during the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after acquiring an additional 457,364 shares during the last quarter. Finally, Merck & Co. Inc. bought a new stake in shares of Sutro Biopharma during the second quarter worth approximately $9,042,053. 96.99% of the stock is currently owned by institutional investors and hedge funds.

About Sutro Biopharma

Sutro Biopharma is a biotechnology company focused on discovering and developing targeted cancer treatments. Its research has centered on antibody-drug conjugates (ADCs), which use antibodies to deliver cancer-fighting drugs to selected cells. The company developed its XpressCF+ platform, a cell-free protein synthesis and site-specific conjugation technology intended to support the design and production of biologic medicines. Sutro’s clinical-stage programs have included luveltamab tazevibulin, an ADC targeting folate receptor alpha, and STRO-003, an ADC targeting ROR1.