Sutro Biopharma, Inc. (NASDAQ:STRO) Given Consensus Rating of “Buy” by Brokerages

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have been assigned an average recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $12.14.

Several research firms recently issued reports on STRO. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research note on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Piper Sandler restated an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. Finally, Truist Financial reduced their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th.

Institutional Trading of Sutro Biopharma

A number of hedge funds have recently bought and sold shares of STRO. Price T Rowe Associates Inc. MD grew its position in shares of Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after purchasing an additional 3,578 shares in the last quarter. ProShare Advisors LLC lifted its position in Sutro Biopharma by 49.1% during the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after buying an additional 5,373 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Sutro Biopharma by 9.7% during the second quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock worth $173,000 after buying an additional 5,404 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Sutro Biopharma by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after buying an additional 7,082 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new stake in shares of Sutro Biopharma in the 3rd quarter worth $28,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Stock Up 3.5 %

Shares of NASDAQ:STRO opened at $2.69 on Thursday. Sutro Biopharma has a 52-week low of $2.25 and a 52-week high of $6.13. The stock has a market cap of $221.81 million, a price-to-earnings ratio of -1.67 and a beta of 1.17. The business has a 50-day moving average price of $3.51 and a 200-day moving average price of $3.76.

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.