Sutro Biopharma, Inc. (NASDAQ:STRO) Given Average Recommendation of “Buy” by Brokerages

Sutro Biopharma, Inc. (NASDAQ:STRO) has received an average recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.14.

Several analysts have recently issued reports on STRO shares. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Monday, September 16th. Truist Financial reduced their target price on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a report on Monday, November 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th.

Sutro Biopharma Trading Up 3.5 %

Shares of Sutro Biopharma stock opened at $2.69 on Thursday. The stock has a fifty day simple moving average of $3.51 and a 200 day simple moving average of $3.76. Sutro Biopharma has a 12-month low of $2.25 and a 12-month high of $6.13. The company has a market capitalization of $221.81 million, a P/E ratio of -1.67 and a beta of 1.17.

Institutional Trading of Sutro Biopharma

A number of large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in shares of Sutro Biopharma by 1,606.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock valued at $13,032,000 after buying an additional 4,186,938 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Sutro Biopharma by 4.6% during the first 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 during the last quarter. Geode Capital Management LLC boosted its position in Sutro Biopharma by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after purchasing an additional 132,015 shares during the period. State Street Corp increased its stake in shares of Sutro Biopharma by 5.2% in the third quarter. State Street Corp now owns 1,647,162 shares of the company’s stock worth $5,699,000 after purchasing an additional 81,855 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of 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 purchasing an additional 370,705 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.