Sutro Biopharma (NASDAQ:STRO) Earns Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $17.00 target price on the stock.

Several other brokerages have also recently weighed in on STRO. HC Wainwright lowered their target price on Sutro Biopharma from $16.00 to $12.00 and set a buy rating on the stock in a report on Tuesday. Wedbush reiterated an outperform rating and set a $12.00 target price on shares of Sutro Biopharma in a research note on Friday, January 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $13.71.

Sutro Biopharma Price Performance

Shares of NASDAQ:STRO opened at $4.93 on Tuesday. The business’s 50 day moving average price is $4.47 and its 200-day moving average price is $3.77. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.11. The firm has a market capitalization of $300.48 million, a price-to-earnings ratio of -2.77 and a beta of 0.95.

Insiders Place Their Bets

In other news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $5.00, for a total transaction of $60,925.00. Following the completion of the sale, the insider now directly owns 12,803 shares in the company, valued at approximately $64,015. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by insiders.

Institutional Trading of Sutro Biopharma

Several institutional investors have recently made changes to their positions in STRO. BlackRock Inc. increased its holdings in Sutro Biopharma by 19.6% during the 2nd quarter. BlackRock Inc. now owns 6,005,557 shares of the company’s stock worth $27,926,000 after purchasing an additional 984,734 shares during the last quarter. Suvretta Capital Management LLC increased its stake in shares of Sutro Biopharma by 3.4% in the second quarter. Suvretta Capital Management LLC now owns 5,883,693 shares of the company’s stock valued at $27,359,000 after purchasing an additional 194,607 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Sutro Biopharma by 1,275.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after purchasing an additional 2,879,412 shares in the last quarter. State Street Corp boosted its holdings in Sutro Biopharma by 57.9% during the first quarter. State Street Corp now owns 2,922,712 shares of the company’s stock worth $13,503,000 after buying an additional 1,071,427 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Sutro Biopharma by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,890,000 shares of the company’s stock valued at $12,398,000 after acquiring an additional 21,238 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Company Profile

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.