Sutro Biopharma (NASDAQ:STRO) Price Target Lowered to $34.00 at Citizens Jmp

Sutro Biopharma (NASDAQ:STRO) had its target price cut by stock analysts at Citizens Jmp from $41.00 to $34.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target points to a potential upside of 58.16% from the company’s previous close.

A number of other equities analysts have also recently issued reports on STRO. HC Wainwright upped their price objective on shares of Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Leerink Partners set a $43.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a report on Friday, May 15th. Truist Financial initiated coverage on Sutro Biopharma in a research note on Thursday, June 11th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Citigroup reissued a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $47.30.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock traded up $0.20 during trading on Thursday, reaching $21.50. 33,351 shares of the company’s stock were exchanged, compared to its average volume of 256,031. Sutro Biopharma has a 1-year low of $7.15 and a 1-year high of $43.85. The company has a market cap of $356.21 million, a P/E ratio of -1.97 and a beta of 1.55. The firm’s 50-day moving average price is $27.12 and its 200 day moving average price is $25.95.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The company had revenue of $9.84 million during the quarter, compared to analyst estimates of $11.96 million. As a group, equities research analysts predict that Sutro Biopharma will post -9.06 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Affinity Asset Advisors LLC raised its position in 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 purchasing an additional 321,137 shares during the last quarter. Perceptive Advisors LLC acquired a new position in Sutro Biopharma during the 1st quarter worth about $17,818,000. Orbimed Advisors LLC bought a new stake in shares of Sutro Biopharma in the 1st quarter valued at about $19,956,000. Spruce Street Capital LP bought a new stake in shares of Sutro Biopharma in the 4th quarter valued at about $875,000. Finally, ADAR1 Capital Management LLC increased its stake in shares of Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock valued at $13,064,000 after buying an additional 457,364 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.