Citizens Jmp Increases Sutro Biopharma (NASDAQ:STRO) Price Target to $35.00

Sutro Biopharma (NASDAQ:STRO) had its target price hoisted by investment analysts at Citizens Jmp from $23.00 to $35.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would indicate a potential upside of 10.94% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company upgraded shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $8.00 to $27.00 in a research note on Tuesday, March 24th. HC Wainwright upgraded shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $28.00 in a research note on Tuesday, March 24th. Truist Financial upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, March 25th. Wall Street Zen upgraded shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.88.

Sutro Biopharma Stock Up 7.5%

STRO opened at $31.55 on Friday. Sutro Biopharma has a 52-week low of $5.33 and a 52-week high of $32.58. The company has a 50 day moving average of $22.41 and a two-hundred day moving average of $14.81. The company has a market cap of $522.78 million, a P/E ratio of -1.21 and a beta of 1.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Velan Capital Investment Management LP boosted its stake in shares of Sutro Biopharma by 2.0% in the third quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock valued at $2,709,000 after purchasing an additional 60,000 shares during the period. UBS Group AG raised its holdings in Sutro Biopharma by 14.0% in the third quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock valued at $1,602,000 after acquiring an additional 226,955 shares in the last quarter. AQR Capital Management LLC raised its holdings in Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after acquiring an additional 1,206,330 shares in the last quarter. Jane Street Group LLC acquired a new stake in Sutro Biopharma in the second quarter valued at $492,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Sutro Biopharma in the third quarter valued at $387,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.