Sutro Biopharma’s (STRO) “Outperform” Rating Reaffirmed at Wedbush

Sutro Biopharma (NASDAQ:STROGet Free Report)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research report issued to clients and investors on Wednesday, RTT News reports. They presently have a $8.00 target price on the stock. Wedbush’s price target indicates a potential upside of 53.85% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $10.00 target price on shares of Sutro Biopharma in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $11.00 target price (down previously from $12.00) on shares of Sutro Biopharma in a research note on Wednesday. Truist Financial lowered their target price on Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, HC Wainwright lowered their target price on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Seven 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 $12.57.

View Our Latest Stock Analysis on STRO

Sutro Biopharma Stock Performance

NASDAQ STRO traded up $0.11 during trading hours on Wednesday, hitting $5.20. 1,498,299 shares of the company traded hands, compared to its average volume of 995,622. The business’s 50-day moving average is $4.55 and its 200-day moving average is $3.80. Sutro Biopharma has a twelve month low of $2.01 and a twelve month high of $6.13. The stock has a market capitalization of $324.69 million, a price-to-earnings ratio of -2.89 and a beta of 0.95.

Insider Activity at Sutro Biopharma

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the transaction, the insider now directly owns 12,803 shares of the company’s stock, valued at approximately $64,015. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in shares of 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 acquiring an additional 8,758 shares in the last quarter. Wells Fargo & Company MN increased its position in Sutro Biopharma by 331.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock valued at $46,000 after buying an additional 4,372 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Sutro Biopharma in the 2nd quarter valued at about $46,000. Tower Research Capital LLC TRC increased its position 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 valued at $52,000 after buying an additional 11,708 shares in the last quarter. Finally, Ergoteles LLC bought a new stake in Sutro Biopharma in the 2nd quarter valued at about $54,000. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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