Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $11.13

Sutro Biopharma, Inc. (NASDAQ:STRO) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $11.13.

STRO has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a report on Monday, November 18th. Piper Sandler reiterated an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. Wells Fargo & Company dropped their target price on shares of Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a report on Wednesday, December 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Sutro Biopharma in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STRO. Bank of New York Mellon Corp increased its position in Sutro Biopharma by 47.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 272,719 shares of the company’s stock worth $799,000 after purchasing an additional 88,034 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Sutro Biopharma by 15.6% in the second quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock worth $2,659,000 after buying an additional 122,299 shares during the period. Rhumbline Advisers grew its stake in shares of 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 buying an additional 21,935 shares in the last quarter. 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, Renaissance Technologies LLC boosted its position in Sutro Biopharma by 48.1% in the 2nd quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock valued at $2,108,000 after buying an additional 233,700 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $1.93 on Monday. The stock has a market capitalization of $159.15 million, a PE ratio of -1.20 and a beta of 1.09. Sutro Biopharma has a 1-year low of $1.70 and a 1-year high of $6.13. The business has a 50 day simple moving average of $2.98 and a two-hundred day simple moving average of $3.50.

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.