Wedbush Reiterates Outperform Rating for Sutro Biopharma (NASDAQ:STRO)

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They presently have a $8.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 191.97% from the company’s current price.

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

Sutro Biopharma Stock Down 2.5 %

Shares of NASDAQ STRO traded down $0.07 during midday trading on Tuesday, hitting $2.74. The stock had a trading volume of 384,432 shares, compared to its average volume of 827,998. The company has a market capitalization of $225.94 million, a price-to-earnings ratio of -1.70 and a beta of 1.09. Sutro Biopharma has a 1-year low of $2.45 and a 1-year high of $6.13. The company has a fifty day moving average price of $3.36 and a 200 day moving average price of $3.67.

Institutional Trading of Sutro Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP bought a new stake in shares of Sutro Biopharma during the third quarter worth approximately $28,000. ProShare Advisors LLC increased its holdings in shares of Sutro Biopharma by 49.1% during the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after buying an additional 5,373 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Sutro Biopharma during the third quarter worth $77,000. Intech Investment Management LLC bought a new stake in shares of Sutro Biopharma in the third quarter worth $91,000. Finally, The Manufacturers Life Insurance Company boosted its position in Sutro Biopharma by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after acquiring an additional 7,082 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.