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

Sutro Biopharma, Inc. (NASDAQ:STRO) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $11.13.

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

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in 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 valued at $13,032,000 after purchasing an additional 4,186,938 shares during the period. Geode Capital Management LLC raised its position in Sutro Biopharma by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock valued at $6,426,000 after purchasing an additional 132,015 shares during the period. State Street Corp raised its position in Sutro Biopharma by 5.2% during the third quarter. State Street Corp now owns 1,647,162 shares of the company’s stock valued at $5,699,000 after purchasing an additional 81,855 shares during the period. Bank of Montreal Can purchased a new stake in Sutro Biopharma during the third quarter valued at approximately $2,852,000. Finally, Renaissance Technologies LLC raised its position in Sutro Biopharma by 48.1% during the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock valued at $2,108,000 after purchasing an additional 233,700 shares during the period. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $1.99 on Friday. The stock has a 50-day simple moving average of $2.29 and a two-hundred day simple moving average of $3.33. Sutro Biopharma has a 52-week low of $1.67 and a 52-week high of $6.13. The firm has a market capitalization of $164.09 million, a PE ratio of -1.24 and a beta of 1.15.

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.