Sutro Biopharma’s (STRO) “Outperform” Rating Reaffirmed at Wedbush

Sutro Biopharma (NASDAQ:STROGet Free Report)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Wednesday, RTT News reports. They presently have a $8.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 53.85% from the company’s current price.

Several other brokerages have also commented on STRO. Piper Sandler restated an “overweight” rating and issued a $11.00 price objective (down from $12.00) on shares of Sutro Biopharma in a report on Wednesday. Truist Financial lowered their price objective on shares of Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $10.00 price objective on shares of Sutro Biopharma in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Wednesday. Finally, HC Wainwright lowered their price objective on shares of Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.57.

Check Out Our Latest Report on STRO

Sutro Biopharma Stock Up 2.2 %

Shares of Sutro Biopharma stock traded up $0.11 during trading on Wednesday, reaching $5.20. 1,498,299 shares of the stock were exchanged, compared to its average volume of 995,622. The stock’s fifty day moving average is $4.55 and its 200 day moving average is $3.80. The firm has a market cap of $324.69 million, a price-to-earnings ratio of -2.89 and a beta of 0.95. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.13.

Insider Buying and Selling at Sutro Biopharma

In related news, insider Nicki Vasquez sold 12,185 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $5.00, for a total transaction of $60,925.00. Following the completion of the sale, the insider now owns 12,803 shares of the company’s stock, valued at $64,015. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its position in Sutro Biopharma by 14.3% in the 1st quarter. American Century Companies Inc. now owns 14,656 shares of the company’s stock worth $66,000 after purchasing an additional 1,833 shares during the period. The Manufacturers Life Insurance Company grew its position in Sutro Biopharma by 9.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 20,667 shares of the company’s stock worth $167,000 after purchasing an additional 1,864 shares during the period. Principal Financial Group Inc. grew its position in Sutro Biopharma by 13.9% in the 1st quarter. Principal Financial Group Inc. now owns 15,348 shares of the company’s stock worth $71,000 after purchasing an additional 1,874 shares during the period. American International Group Inc. grew its position in Sutro Biopharma by 9.8% in the 4th quarter. American International Group Inc. now owns 25,500 shares of the company’s stock worth $206,000 after purchasing an additional 2,273 shares during the period. Finally, Prudential Financial Inc. grew its position in Sutro Biopharma by 24.2% in the 1st quarter. Prudential Financial Inc. now owns 14,390 shares of the company’s stock worth $66,000 after purchasing an additional 2,800 shares during the period. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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