Truist Financial Upgrades Sutro Biopharma (NASDAQ:STRO) to Strong-Buy

Sutro Biopharma (NASDAQ:STRO) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on STRO. Citizens Jmp raised Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 price target for the company in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. HC Wainwright raised shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $28.00 in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. Finally, 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 research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.29.

Sutro Biopharma Price Performance

STRO opened at $23.50 on Wednesday. The stock’s 50 day moving average price is $18.61 and its 200 day moving average price is $12.76. The stock has a market cap of $199.99 million, a P/E ratio of -0.90 and a beta of 1.47. Sutro Biopharma has a 12 month low of $5.23 and a 12 month high of $26.54.

Institutional Trading of Sutro Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Tennessee Department of Treasury bought a new stake in Sutro Biopharma during the fourth quarter worth approximately $86,000. Opaleye Management Inc. bought a new position in shares of Sutro Biopharma in the fourth quarter valued at $2,206,000. Balyasny Asset Management L.P. acquired a new stake in shares of Sutro Biopharma during the 4th quarter valued at $2,662,000. ADAR1 Capital Management LLC acquired a new stake in shares of Sutro Biopharma during the 4th quarter valued at $776,000. Finally, Spruce Street Capital LP bought a new stake in shares of Sutro Biopharma during the 4th quarter worth $875,000. Institutional investors own 96.99% of the company’s stock.

Key Stories Impacting Sutro Biopharma

Here are the key news stories impacting Sutro Biopharma this week:

• Positive Sentiment: Deutsche Bank raised its price target on STRO to $55 (from $51) and kept a Buy rating — a materially higher target that suggests strong upside vs. the current share price and supports bullish investor expectations. Deutsche Bank raises PT to $55
• Positive Sentiment: Wells Fargo upgraded STRO from Equal Weight to Overweight and raised its price target to $27 (from $8), signaling improving institutional sentiment and providing a nearer-term upside anchor for the stock. Wells Fargo upgrade
• Positive Sentiment: HC Wainwright upgraded STRO from Neutral to Buy and raised its target to $28 (from $10). The firm also published FY2030 EPS projections (large negative EPS expected), but maintained a Buy stance and higher target — a supportive signal from a biotech-focused shop. HC Wainwright upgrade HC Wainwright EPS note
• Neutral Sentiment: Short-interest reports for March show anomalous values (reported as 0 shares with NaN changes and 0.0 days-to-cover across different volume baselines). The data appears unreliable or reflects a reporting/clearing event, so its immediate impact on price is unclear. (Multiple internal short-interest notices consolidated)

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.