On March 24, 2026, HC Wainwright & Co. upgraded Sutro Biopharma (NasdaqGM:STRO) from Neutral to Buy, projecting a 55.41% upside with an average one-year price target of $33.15 per share, compared to its recent closing price of $21.33.
The company’s projected annual revenue stands at $172 million, marking a 68% increase. However, institutional ownership has decreased significantly, with 59 funds reporting a 62.89% decline to 5.3 million shares. The put/call ratio is currently at 11.78, signaling a bearish outlook.
Key shareholders include Affinity Asset Advisors with 748,000 shares (4.57% ownership), and Kynam Capital Management, which reported a drastic decrease from 5 million to 480,000 shares, reflecting a 960.93% reduction.
