Sutro Biopharma’s (STRO) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note released on Wednesday,Benzinga reports. JMP Securities currently has a $17.00 price target on the stock.

Several other brokerages have also recently issued reports on STRO. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a research note on Tuesday. Truist Financial decreased their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.13.

Sutro Biopharma Stock Up 1.2 %

Shares of STRO stock opened at $2.48 on Wednesday. The stock has a 50-day simple moving average of $3.31 and a 200 day simple moving average of $3.64. Sutro Biopharma has a fifty-two week low of $2.31 and a fifty-two week high of $6.13. The stock has a market capitalization of $204.50 million, a P/E ratio of -1.52 and a beta of 1.09.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds have recently bought and sold shares of STRO. Price T Rowe Associates Inc. MD grew its stake in Sutro Biopharma by 24.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sutro Biopharma by 47.7% during the second 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 during the period. Panagora Asset Management Inc. grew its position in Sutro Biopharma by 15.6% during the second quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock valued at $2,659,000 after purchasing an additional 122,299 shares in the last quarter. Rhumbline Advisers increased its stake in Sutro Biopharma by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 116,099 shares of the company’s stock valued at $340,000 after buying an additional 21,935 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Sutro Biopharma by 30.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after buying an additional 370,705 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

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.