Sutro Biopharma Inc (NASDAQ:STRO) has earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $22.60.
Several equities research analysts recently issued reports on STRO shares. ValuEngine upgraded shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Deutsche Bank assumed coverage on shares of Sutro Biopharma in a research note on Thursday, July 18th. They set a “buy” rating and a $22.00 price target on the stock. HC Wainwright set a $18.00 price target on shares of Sutro Biopharma and gave the stock a “buy” rating in a research note on Monday, June 24th. Cowen reiterated a “buy” rating on shares of Sutro Biopharma in a research note on Sunday, June 16th. Finally, Zacks Investment Research cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday.
STRO stock traded up $0.15 on Monday, hitting $8.85. The company had a trading volume of 24,184 shares, compared to its average volume of 31,128. Sutro Biopharma has a 12-month low of $8.34 and a 12-month high of $15.90. The stock’s 50-day simple moving average is $10.86 and its 200 day simple moving average is $10.76. The stock has a market cap of $202.91 million and a price-to-earnings ratio of -1.44.
Institutional investors have recently modified their holdings of the company. Deutsche Bank AG purchased a new position in shares of Sutro Biopharma during the 4th quarter valued at $87,000. Acadian Asset Management LLC increased its holdings in Sutro Biopharma by 1,365.7% in the 2nd quarter. Acadian Asset Management LLC now owns 9,058 shares of the company’s stock valued at $103,000 after acquiring an additional 8,440 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Sutro Biopharma by 240.7% in the 2nd quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock valued at $130,000 after acquiring an additional 8,113 shares during the last quarter. Spark Investment Management LLC bought a new stake in Sutro Biopharma in the 1st quarter valued at $168,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Sutro Biopharma by 72.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 22,592 shares of the company’s stock valued at $258,000 after acquiring an additional 9,482 shares during the last quarter. Institutional investors and hedge funds own 49.93% of the company’s stock.
About Sutro Biopharma
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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