Sutro Biopharma’s (STRO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research note published on Monday,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

STRO has been the topic of a number of other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Monday, September 16th. Truist Financial cut 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.14.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO opened at $2.75 on Monday. The firm’s 50-day moving average is $3.71 and its two-hundred day moving average is $3.82. The company has a market capitalization of $226.76 million, a PE ratio of -1.71 and a beta of 1.17. Sutro Biopharma has a 12-month low of $2.13 and a 12-month high of $6.13.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. grew its holdings in Sutro Biopharma by 1,606.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock valued at $13,032,000 after buying an additional 4,186,938 shares during the period. Bank of Montreal Can acquired a new stake in shares of Sutro Biopharma in the third quarter worth approximately $2,852,000. Jacobs Levy Equity Management Inc. grew its holdings in Sutro Biopharma by 214.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock valued at $6,043,000 after purchasing an additional 729,239 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sutro Biopharma during the third quarter worth approximately $1,512,000. Finally, Acadian Asset Management LLC increased its position in 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 during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

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.