Sutro Biopharma (NASDAQ:STRO) Rating Reiterated by Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report released on Wednesday, Benzinga reports. Oppenheimer currently has a $10.00 price objective on the stock.

A number of other research analysts also recently weighed in on the company. Wedbush decreased their price target on Sutro Biopharma from $12.00 to $8.00 and set an outperform rating for the company in a research note on Tuesday. JMP Securities restated a market outperform rating and issued a $17.00 price target on shares of Sutro Biopharma in a research note on Tuesday. Finally, HC Wainwright decreased their price target on Sutro Biopharma from $16.00 to $12.00 and set a buy rating for the company in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $13.71.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $5.65 on Wednesday. The company has a market cap of $352.79 million, a PE ratio of -3.17 and a beta of 0.95. Sutro Biopharma has a 52-week low of $2.01 and a 52-week high of $6.13. The stock has a 50-day simple moving average of $4.53 and a 200 day simple moving average of $3.79.

Insider Transactions at Sutro Biopharma

In other news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the completion of the transaction, the insider now directly owns 12,803 shares in the company, valued at approximately $64,015. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sutro Biopharma

Hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its holdings in Sutro Biopharma by 1,275.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock worth $10,775,000 after purchasing an additional 2,879,412 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Sutro Biopharma by 18.2% during the 3rd quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock worth $2,684,000 after purchasing an additional 119,399 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Sutro Biopharma by 8.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock worth $1,281,000 after purchasing an additional 28,160 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Sutro Biopharma by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock worth $154,000 after purchasing an additional 9,092 shares during the last quarter. Finally, Suvretta Capital Management LLC lifted its holdings in Sutro Biopharma by 3.4% during the 2nd quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company’s stock worth $27,359,000 after purchasing an additional 194,607 shares during the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.