Sutro Biopharma (NASDAQ:STRO) Hits New 52-Week High Following Analyst Upgrade

Sutro Biopharma, Inc. (NASDAQ:STRO) shares hit a new 52-week high on Tuesday after Truist Financial upgraded the stock to a strong-buy rating. The company traded as high as $39.74 and last traded at $37.1620, with a volume of 43157 shares trading hands. The stock had previously closed at $38.39.

A number of other equities analysts have also weighed in on the stock. Lifesci Capital upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Citizens Jmp lifted their price target on shares of Sutro Biopharma from $35.00 to $41.00 and gave the company a “market outperform” rating in a report on Thursday, April 23rd. HC Wainwright upgraded shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and lifted their price target for the company from $10.00 to $28.00 in a report on Tuesday, March 24th. Finally, Wells Fargo & Company upgraded shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and lifted their price target 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, seven have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sutro Biopharma presently has a consensus rating of “Moderate Buy” and an average target price of $40.78.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors have recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury acquired a new position in Sutro Biopharma in the 4th quarter worth $86,000. Sigma Planning Corp acquired a new position in Sutro Biopharma in the 1st quarter worth $312,000. Jane Street Group LLC bought a new stake in shares of Sutro Biopharma in the 4th quarter worth about $265,000. Bridgeway Capital Management LLC raised its stake in shares of Sutro Biopharma by 232.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after purchasing an additional 30,000 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Sutro Biopharma in the 4th quarter valued at about $776,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Stock Performance

The firm has a market cap of $659.98 million, a price-to-earnings ratio of -1.53 and a beta of 1.63. The business’s 50 day moving average price is $26.90 and its 200-day moving average price is $17.14.

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.