Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $11.13 Average Price Target from Analysts

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.13.

A number of equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a report on Monday, November 18th. Wells Fargo & Company reduced their price objective on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Wedbush restated an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a report on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a report on Friday, October 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a research note on Wednesday, December 11th.

Sutro Biopharma Stock Down 4.1 %

STRO opened at $1.89 on Monday. Sutro Biopharma has a twelve month low of $1.70 and a twelve month high of $6.13. The company has a market cap of $155.85 million, a PE ratio of -1.17 and a beta of 1.09. The company has a 50-day moving average price of $2.95 and a 200 day moving average price of $3.49.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in 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. increased its holdings in shares of Sutro Biopharma by 15.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock worth $2,659,000 after buying an additional 122,299 shares during the last quarter. Rhumbline Advisers raised its position in shares of Sutro Biopharma by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 116,099 shares of the company’s stock valued at $340,000 after buying an additional 21,935 shares during the period. Acadian Asset Management LLC lifted its holdings in Sutro Biopharma by 30.8% in the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock valued at $4,613,000 after acquiring an additional 370,705 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Sutro Biopharma by 48.1% in the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock worth $2,108,000 after acquiring an additional 233,700 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.