Sutro Biopharma (NASDAQ:STRO) Receives Outperform Rating from Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research report issued on Tuesday,RTT News reports. They presently have a $8.00 target price on the stock. Wedbush’s target price suggests a potential upside of 226.53% from the company’s current price.

STRO has been the subject of several other research reports. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. Truist Financial dropped their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.13.

Sutro Biopharma Stock Up 4.3 %

Shares of Sutro Biopharma stock opened at $2.45 on Tuesday. The stock has a market cap of $202.03 million, a price-to-earnings ratio of -1.52 and a beta of 1.09. Sutro Biopharma has a twelve month low of $2.31 and a twelve month high of $6.13. The company’s fifty day moving average is $3.31 and its 200 day moving average is $3.64.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can bought a new stake in shares of Sutro Biopharma in the 3rd quarter valued at $2,852,000. Vanguard Group Inc. grew its holdings in Sutro Biopharma by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock worth $17,079,000 after purchasing an additional 132,790 shares during the period. Acadian Asset Management LLC increased its stake 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 purchasing an additional 370,705 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sutro Biopharma during the third quarter valued at about $1,512,000. Finally, AQR Capital Management LLC boosted its position in shares of Sutro Biopharma by 691.5% during the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock worth $831,000 after purchasing an additional 247,694 shares in the last quarter. 96.99% of the stock is currently owned by 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.