Wells Fargo & Company Lowers Sutro Biopharma (NASDAQ:STRO) Price Target to $4.00

Sutro Biopharma (NASDAQ:STRO) had its price target decreased by research analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 81.82% from the stock’s current price.

STRO has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a report on Monday, November 18th. Wedbush restated an “outperform” rating and issued a $8.00 target price on shares of Sutro Biopharma in a report on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a research note on Friday, October 11th. Truist Financial dropped 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. Finally, JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Sutro Biopharma presently has an average rating of “Moderate Buy” and a consensus target price of $11.13.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $2.20 on Wednesday. The company has a 50 day moving average price of $3.29 and a 200 day moving average price of $3.63. Sutro Biopharma has a fifty-two week low of $2.19 and a fifty-two week high of $6.13. The stock has a market capitalization 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 company. Price T Rowe Associates Inc. MD increased its stake in shares of Sutro Biopharma by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after acquiring an additional 3,578 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Sutro Biopharma by 47.7% in the second quarter. Bank of New York Mellon Corp now owns 272,719 shares of the company’s stock valued at $799,000 after buying an additional 88,034 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Sutro Biopharma by 15.6% during the second quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock worth $2,659,000 after acquiring an additional 122,299 shares during the period. Rhumbline Advisers lifted its holdings in Sutro Biopharma by 23.3% in the second quarter. Rhumbline Advisers now owns 116,099 shares of the company’s stock valued at $340,000 after acquiring an additional 21,935 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Sutro Biopharma by 30.8% during the 2nd 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. 96.99% of the stock is owned by institutional investors and hedge funds.

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.