Sutro Biopharma (NASDAQ:STRO) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler restated their overweight rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $12.00.

A number of other research analysts have also recently commented on STRO. Truist Financial decreased their price objective on Sutro Biopharma from $25.00 to $18.00 and set a buy rating on the stock in a report on Wednesday. JMP Securities reissued a market outperform rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday. Oppenheimer reissued an outperform rating and issued a $10.00 target price on shares of Sutro Biopharma in a research report on Wednesday. HC Wainwright cut their target price on Sutro Biopharma from $16.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, March 26th. Finally, Wedbush cut their target price on Sutro Biopharma from $12.00 to $8.00 and set an outperform rating on the stock in a research report on Tuesday, March 26th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $12.57.

Sutro Biopharma Price Performance

Shares of Sutro Biopharma stock opened at $4.88 on Wednesday. The stock has a market cap of $304.72 million, a P/E ratio of -2.74 and a beta of 0.95. The stock’s 50 day simple moving average is $4.57 and its 200-day simple moving average is $3.82. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13.

Insider Transactions at Sutro Biopharma

In other news, insider Nicki Vasquez sold 12,185 shares of the company’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 sale, the insider now owns 12,803 shares of the company’s stock, valued at $64,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Sutro Biopharma

A number of large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. increased its holdings in Sutro Biopharma by 1,275.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after buying an additional 2,879,412 shares during the last quarter. Candriam S.C.A. increased its holdings in Sutro Biopharma by 135.8% in the first quarter. Candriam S.C.A. now owns 1,860,775 shares of the company’s stock valued at $7,913,000 after buying an additional 1,071,591 shares during the last quarter. State Street Corp increased its holdings in Sutro Biopharma by 57.9% in the first quarter. State Street Corp now owns 2,922,712 shares of the company’s stock valued at $13,503,000 after buying an additional 1,071,427 shares during the last quarter. BlackRock Inc. increased its holdings in Sutro Biopharma by 19.6% in the second quarter. BlackRock Inc. now owns 6,005,557 shares of the company’s stock valued at $27,926,000 after buying an additional 984,734 shares during the last quarter. Finally, Kynam Capital Management LP increased its holdings in Sutro Biopharma by 66.3% in the second quarter. Kynam Capital Management LP now owns 1,500,000 shares of the company’s stock valued at $6,975,000 after buying an additional 598,164 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

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.