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

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $17.00 price objective on the stock.

Other analysts have also issued research reports about the company. Truist Financial lowered their target price on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Wedbush reissued an “outperform” rating and set a $8.00 price objective on shares of Sutro Biopharma in a report on Tuesday. Piper Sandler reissued an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a report on Monday, November 18th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $12.14.

Sutro Biopharma Trading Up 0.4 %

STRO traded up $0.01 during midday trading on Wednesday, reaching $2.36. The company’s stock had a trading volume of 673,730 shares, compared to its average volume of 841,055. The stock has a market cap of $194.61 million, a P/E ratio of -1.46 and a beta of 1.09. The company has a fifty day simple moving average of $3.33 and a 200 day simple moving average of $3.65. Sutro Biopharma has a twelve month low of $2.31 and a twelve month high of $6.13.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new stake in Sutro Biopharma in the third quarter valued at about $28,000. ProShare Advisors LLC increased its holdings in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 during the last quarter. Virtu Financial LLC bought a new stake in Sutro Biopharma in the third quarter valued at about $77,000. Finally, Intech Investment Management LLC bought a new stake in Sutro Biopharma in the third quarter valued at about $91,000. Institutional investors 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.