HC Wainwright Trims Sutro Biopharma (NASDAQ:STRO) Target Price to $12.00

Sutro Biopharma (NASDAQ:STRO) had its price target cut by HC Wainwright from $16.00 to $12.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Sutro Biopharma’s Q1 2024 earnings at ($0.95) EPS, Q2 2024 earnings at ($0.97) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($4.12) EPS, FY2025 earnings at ($3.73) EPS, FY2026 earnings at ($3.64) EPS, FY2027 earnings at ($3.12) EPS and FY2028 earnings at ($1.87) EPS.

Separately, Wedbush restated an outperform rating and set a $12.00 price target on shares of Sutro Biopharma in a report on Friday, January 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $13.71.

Sutro Biopharma Price Performance

Shares of STRO stock opened at $5.65 on Tuesday. The business’s 50 day simple moving average is $4.50 and its 200 day simple moving average is $3.79. Sutro Biopharma has a one year low of $2.01 and a one year high of $6.13. The stock has a market capitalization of $352.79 million, a PE ratio of -3.17 and a beta of 0.95.

Insider Activity

In other news, insider Nicki Vasquez sold 12,185 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the completion of the sale, the insider now directly owns 12,803 shares of the company’s stock, valued at approximately $64,015. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STRO. Nisa Investment Advisors LLC boosted its stake in Sutro Biopharma by 14,125.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after purchasing an additional 8,758 shares during the period. Point72 Hong Kong Ltd bought a new position in Sutro Biopharma in the 2nd quarter worth about $46,000. Wells Fargo & Company MN boosted its stake in Sutro Biopharma by 331.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock worth $46,000 after purchasing an additional 4,372 shares during the period. Tower Research Capital LLC TRC boosted its stake in Sutro Biopharma by 342.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 15,128 shares of the company’s stock worth $52,000 after purchasing an additional 11,708 shares during the period. Finally, Ergoteles LLC bought a new position in Sutro Biopharma in the 2nd quarter worth about $54,000. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.