Sutro Biopharma (NASDAQ:STRO) Raised to “Overweight” at Wells Fargo & Company

Sutro Biopharma (NASDAQ:STRO) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a $27.00 price objective on the stock, up from their previous price objective of $8.00. Wells Fargo & Company‘s price target would suggest a potential upside of 26.58% from the company’s current price.

A number of other analysts have also issued reports on STRO. Wedbush reissued a “neutral” rating and issued a $100.00 price target (up from $20.00) on shares of Sutro Biopharma in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. Citizens Jmp upgraded shares of Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 target price for the company in a research report on Tuesday, January 20th. Citigroup raised shares of Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. Finally, HC Wainwright upgraded shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and boosted their price target for the company from $10.00 to $28.00 in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Sutro Biopharma currently has an average rating of “Hold” and an average target price of $34.33.

Sutro Biopharma Trading Up 3.1%

Shares of Sutro Biopharma stock opened at $21.33 on Tuesday. Sutro Biopharma has a 52 week low of $5.23 and a 52 week high of $26.54. The stock has a market cap of $181.60 million, a PE ratio of -0.82 and a beta of 1.47. The company’s 50-day moving average price is $18.13 and its two-hundred day moving average price is $12.59.

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

Institutional Investors Weigh In On Sutro Biopharma

Large investors have recently bought and sold shares of the business. State of Tennessee Department of Treasury bought a new stake in Sutro Biopharma in the fourth quarter worth $86,000. Jane Street Group LLC bought a new position in Sutro Biopharma during the fourth quarter valued at about $265,000. Bridgeway Capital Management LLC lifted its position in shares of Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $37,000 after buying an additional 30,000 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Sutro Biopharma during the 4th quarter worth about $776,000. Finally, Spruce Street Capital LP bought a new stake in shares of Sutro Biopharma during the 4th quarter worth about $875,000. 96.99% of the stock is currently owned by institutional investors.

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.