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

Wedbush reiterated their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a report released on Tuesday,RTT News reports. The brokerage currently has a $8.00 price target on the stock.

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

Sutro Biopharma Price Performance

NASDAQ:STRO opened at $2.20 on Tuesday. Sutro Biopharma has a one year low of $2.19 and a one year high of $6.13. The company has a fifty day moving average price of $3.29 and a 200 day moving average price of $3.63. The stock has a market cap of $181.41 million, a P/E ratio of -1.37 and a beta of 1.09.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its holdings in shares of Sutro Biopharma by 1,606.1% during the second quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock worth $13,032,000 after purchasing an additional 4,186,938 shares during the last quarter. Bank of Montreal Can acquired a new stake in Sutro Biopharma in the 3rd quarter valued at about $2,852,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sutro Biopharma in the 3rd quarter valued at about $1,512,000. Acadian Asset Management LLC lifted its position in shares of Sutro Biopharma by 30.8% during the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after purchasing an additional 370,705 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Sutro Biopharma by 691.5% during the second 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. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.