Wells Fargo & Company Cuts Sutro Biopharma (NASDAQ:STRO) Price Target to $4.00

Sutro Biopharma (NASDAQ:STRO) had its target price decreased by equities research analysts at Wells Fargo & Company from $5.00 to $4.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 61.94% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday. Truist Financial cut their price objective on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 16th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Wedbush reiterated an “outperform” rating and issued a $8.00 price target on shares of Sutro Biopharma in a research report on Tuesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.13.

Sutro Biopharma Stock Performance

NASDAQ:STRO traded up $0.12 during mid-day trading on Wednesday, hitting $2.47. The stock had a trading volume of 1,024,882 shares, compared to its average volume of 842,254. Sutro Biopharma has a twelve month low of $2.31 and a twelve month high of $6.13. The stock has a market cap of $203.68 million, a price-to-earnings ratio of -1.54 and a beta of 1.09. The company’s 50 day simple moving average is $3.33 and its 200 day simple moving average is $3.65.

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 acquired a new position in Sutro Biopharma in the third quarter valued at $28,000. ProShare Advisors LLC lifted its holdings in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after buying an additional 5,373 shares during the period. Virtu Financial LLC acquired a new position in Sutro Biopharma in the third quarter valued at $77,000. Intech Investment Management LLC acquired a new position in Sutro Biopharma in the third quarter valued at $91,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Sutro Biopharma by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after buying an additional 7,082 shares during the period. Institutional investors 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.