Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $11.13

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $11.13.

Several equities research analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a report on Wednesday, December 11th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a report on Monday, November 18th. Wells Fargo & Company reduced their price target on shares of Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Wedbush reissued an “outperform” rating and set a $8.00 price objective on shares of Sutro Biopharma in a research report on Tuesday, December 10th.

Sutro Biopharma Stock Up 2.9 %

STRO opened at $1.79 on Tuesday. The stock has a market cap of $147.60 million, a P/E ratio of -1.11 and a beta of 1.15. Sutro Biopharma has a 12 month low of $1.51 and a 12 month high of $6.13. The company has a fifty day simple moving average of $1.96 and a 200 day simple moving average of $3.08.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new position in shares of Sutro Biopharma in the 3rd quarter valued at about $2,852,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sutro Biopharma during the third quarter valued at approximately $1,512,000. Prudential Financial Inc. grew its stake in Sutro Biopharma by 351.0% in the fourth quarter. Prudential Financial Inc. now owns 547,510 shares of the company’s stock valued at $1,007,000 after purchasing an additional 426,100 shares in the last quarter. Barclays PLC increased its position in shares of Sutro Biopharma by 385.3% during the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock worth $944,000 after purchasing an additional 216,757 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Sutro Biopharma by 22.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,015,211 shares of the company’s stock worth $1,868,000 after purchasing an additional 187,114 shares in the last quarter. 96.99% of the stock is currently 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.