Sutro Biopharma (NASDAQ:STRO) Coverage Initiated by Analysts at Leerink Partners

Leerink Partners began coverage on shares of Sutro Biopharma (NASDAQ:STRO) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $38.00 price target on the stock. Leerink Partners’ price target would indicate a potential upside of 58.66% from the stock’s previous close.

Several other research firms also recently commented on STRO. Wells Fargo & Company raised Sutro Biopharma from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft upped their price target on Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Wall Street Zen upgraded Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Citizens Jmp upgraded 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 reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.38.

Sutro Biopharma Stock Up 0.7%

NASDAQ:STRO opened at $23.95 on Tuesday. The company has a market capitalization of $396.85 million, a P/E ratio of -0.92 and a beta of 1.31. Sutro Biopharma has a 52 week low of $5.23 and a 52 week high of $26.54. The stock’s fifty day moving average is $20.13 and its two-hundred day moving average is $13.64.

Institutional Trading of Sutro Biopharma

Large investors have recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury purchased a new position in shares of Sutro Biopharma during the 4th quarter valued at $86,000. Jane Street Group LLC bought a new stake in Sutro Biopharma in the fourth quarter worth $265,000. Bridgeway Capital Management LLC boosted its holdings in 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 purchasing an additional 30,000 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Sutro Biopharma in the fourth quarter worth $776,000. Finally, Spruce Street Capital LP bought a new stake in Sutro Biopharma in the fourth quarter worth $875,000. 96.99% of the stock is owned by institutional investors and hedge funds.

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.