Sutro Biopharma (NASDAQ:STRO) Upgraded to “Market Outperform” at Citizens Jmp

Citizens Jmp upgraded shares of Sutro Biopharma (NASDAQ:STRO) from a market perform rating to a market outperform rating in a research note released on Tuesday morning, Marketbeat Ratings reports. Citizens Jmp currently has $23.00 target price on the stock.

STRO has been the subject of a number of other research reports. Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sutro Biopharma in a research report on Wednesday, December 17th. Citigroup raised Sutro Biopharma to an “outperform” rating in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 22nd. Finally, HC Wainwright lifted their price objective on shares of Sutro Biopharma to $10.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.83.

Sutro Biopharma Stock Up 8.0%

Shares of Sutro Biopharma stock opened at $14.92 on Tuesday. The stock has a market cap of $126.97 million, a P/E ratio of -0.57 and a beta of 1.52. Sutro Biopharma has a 12-month low of $5.23 and a 12-month high of $21.50. The business’s 50 day moving average is $10.16 and its 200-day moving average is $9.36.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Thursday, November 6th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.25). The firm had revenue of $9.69 million for the quarter, compared to analyst estimates of $10.14 million. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 206.77%. On average, sell-side analysts expect that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Velan Capital Investment Management LP lifted its holdings in shares of Sutro Biopharma by 197.1% during the second quarter. Velan Capital Investment Management LP now owns 3,060,000 shares of the company’s stock worth $2,185,000 after buying an additional 2,030,000 shares in the last quarter. AQR Capital Management LLC increased its position in Sutro Biopharma by 1,052.8% during the first 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 period. Jane Street Group LLC acquired a new stake in Sutro Biopharma in the 2nd quarter worth about $492,000. Jacobs Levy Equity Management Inc. acquired a new stake in Sutro Biopharma in the 3rd quarter worth about $387,000. Finally, Two Sigma Investments LP boosted its holdings in Sutro Biopharma by 244.8% in the 3rd quarter. Two Sigma Investments LP now owns 396,785 shares of the company’s stock valued at $345,000 after purchasing an additional 281,717 shares during the period. 96.99% of the stock is 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.