Sutro Biopharma, Inc. (NASDAQ:STRO) Receives Average Rating of “Buy” from Analysts

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have been given a consensus rating of “Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $13.71.

Several analysts have commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a research note on Tuesday. Wedbush decreased their target price on Sutro Biopharma from $12.00 to $8.00 and set an “outperform” rating on the stock in a research report on Tuesday. Oppenheimer reissued an “outperform” rating and set a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday. Finally, HC Wainwright reduced their price objective on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday.

Sutro Biopharma Trading Up 17.9 %

NASDAQ STRO opened at $4.93 on Friday. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.11. The stock’s 50 day moving average is $4.47 and its 200 day moving average is $3.77. The stock has a market cap of $300.48 million, a PE ratio of -2.77 and a beta of 0.95.

Insider Buying and Selling at Sutro Biopharma

In other news, insider Nicki Vasquez sold 12,185 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $5.00, for a total value of $60,925.00. Following the sale, the insider now directly owns 12,803 shares in the company, valued at $64,015. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Sutro Biopharma

Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its stake in Sutro Biopharma by 1,275.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock worth $10,775,000 after buying an additional 2,879,412 shares during the period. Acadian Asset Management LLC raised its stake in shares of Sutro Biopharma by 18.2% during the third quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock valued at $2,684,000 after acquiring an additional 119,399 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Sutro Biopharma by 8.3% in the third quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock valued at $1,281,000 after purchasing an additional 28,160 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Sutro Biopharma by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock valued at $154,000 after purchasing an additional 9,092 shares during the period. Finally, Suvretta Capital Management LLC grew its stake in Sutro Biopharma by 3.4% in the second quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company’s stock worth $27,359,000 after purchasing an additional 194,607 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. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.