Sutro Biopharma (NASDAQ:STRO) Given Buy Rating at HC Wainwright

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $12.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 315.22% from the stock’s current price.

A number of other brokerages also recently weighed in on STRO. Truist Financial lowered 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. Piper Sandler reiterated an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a research note on Friday, October 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a research report on Monday, September 16th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $12.14.

Sutro Biopharma Stock Down 16.2 %

Shares of Sutro Biopharma stock opened at $2.89 on Monday. The business has a 50-day moving average price of $3.74 and a 200 day moving average price of $3.83. Sutro Biopharma has a fifty-two week low of $2.13 and a fifty-two week high of $6.13. The firm has a market cap of $238.31 million, a P/E ratio of -1.80 and a beta of 1.17.

Institutional Investors Weigh In On Sutro Biopharma

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in shares of Sutro Biopharma by 30.5% during the first quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company’s stock valued at $6,803,000 after acquiring an additional 281,224 shares during the period. Vanguard Group Inc. lifted its position in Sutro Biopharma by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after purchasing an additional 132,790 shares during the last quarter. AQR Capital Management LLC boosted its stake in Sutro Biopharma by 691.5% during the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock valued at $831,000 after purchasing an additional 247,694 shares during the period. Renaissance Technologies LLC boosted its stake in Sutro Biopharma by 48.1% during the 2nd 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. Finally, Point72 Asset Management L.P. grew its position 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 worth $13,032,000 after purchasing an additional 4,186,938 shares during the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

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.