Sutro Biopharma (NASDAQ:STRO) Now Covered by Leerink Partners

Leerink Partners assumed coverage on shares of Sutro Biopharma (NASDAQ:STRO) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $38.00 price target on the stock.

Several other research firms have also weighed in on STRO. Citizens Jmp upgraded shares of 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 22nd. Truist Financial raised Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Citigroup raised Sutro Biopharma to an “outperform” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.38.

Sutro Biopharma Price Performance

NASDAQ:STRO opened at $25.71 on Tuesday. The firm has a market capitalization of $425.94 million, a price-to-earnings ratio of -0.99 and a beta of 1.31. The company’s 50-day moving average is $20.31 and its two-hundred day moving average is $13.76. Sutro Biopharma has a 1-year low of $5.23 and a 1-year high of $26.54.

Hedge Funds Weigh In On Sutro Biopharma

Several large investors have recently made changes to their positions in the stock. Velan Capital Investment Management LP lifted its holdings in shares of Sutro Biopharma by 2.0% in the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock worth $2,709,000 after acquiring an additional 60,000 shares during the last quarter. UBS Group AG lifted its holdings in shares of Sutro Biopharma by 14.0% in the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock worth $1,602,000 after acquiring an additional 226,955 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after acquiring an additional 1,206,330 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Sutro Biopharma in the 2nd quarter worth approximately $492,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Sutro Biopharma in the 3rd quarter worth approximately $387,000. 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.