Sutro Biopharma, Inc. (NASDAQ:STRO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $11.13.

Several research firms have recently commented on STRO. Wedbush reaffirmed an "outperform" rating and issued a $8.00 target price on shares of Sutro Biopharma in a research report on Tuesday, December 10th. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Piper Sandler reiterated an "overweight" rating and set a $11.00 target price on shares of Sutro Biopharma in a report on Friday, October 11th. JMP Securities restated a "market outperform" rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their price target on Sutro Biopharma from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Sutro Biopharma by 47.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 272,719 shares of the company's stock worth $799,000 after purchasing an additional 88,034 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Sutro Biopharma by 23.3% in the second quarter. Rhumbline Advisers now owns 116,099 shares of the company's stock worth $340,000 after buying an additional 21,935 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Sutro Biopharma by 48.1% in the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company's stock worth $2,108,000 after buying an additional 233,700 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Sutro Biopharma by 9.7% during the second quarter. Hsbc Holdings PLC now owns 60,858 shares of the company's stock valued at $173,000 after buying an additional 5,404 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Sutro Biopharma by 49.1% during the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock valued at $48,000 after acquiring an additional 5,373 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Stock Performance

STRO stock traded up $0.16 on Friday, reaching $2.01. The company's stock had a trading volume of 1,309,170 shares, compared to its average volume of 960,843. The business has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $3.34. The firm has a market cap of $165.74 million, a PE ratio of -1.25 and a beta of 1.15. Sutro Biopharma has a 12-month low of $1.67 and a 12-month high of $6.13.

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.