Sutro Biopharma (NASDAQ:STRO) Given Outperform Rating at Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $8.00 price objective on the stock. Wedbush’s target price points to a potential upside of 191.97% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a report on Monday, November 18th. Truist Financial decreased their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Monday, September 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a report on Friday, October 11th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $12.14.

Sutro Biopharma Price Performance

Shares of STRO traded down $0.07 during trading hours on Tuesday, hitting $2.74. 384,432 shares of the company were exchanged, compared to its average volume of 827,998. The firm has a fifty day simple moving average of $3.36 and a 200-day simple moving average of $3.67. The company has a market capitalization of $225.94 million, a PE ratio of -1.70 and a beta of 1.09. Sutro Biopharma has a one year low of $2.45 and a one year high of $6.13.

Institutional Trading of Sutro Biopharma

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Sutro Biopharma by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after purchasing an additional 132,790 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after buying an additional 3,578 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Sutro Biopharma by 47.7% during the second quarter. Bank of New York Mellon Corp now owns 272,719 shares of the company’s stock worth $799,000 after purchasing an additional 88,034 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Sutro Biopharma by 15.6% during the second quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock worth $2,659,000 after purchasing an additional 122,299 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Sutro Biopharma by 23.3% during the second quarter. Rhumbline Advisers now owns 116,099 shares of the company’s stock worth $340,000 after acquiring an additional 21,935 shares during the period. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.