Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $12.14

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) has been given an average recommendation of "Buy" by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $12.14.

Several research analysts have recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 price target on shares of Sutro Biopharma in a report on Monday, September 16th. Piper Sandler restated an "overweight" rating and issued a $11.00 target price on shares of Sutro Biopharma in a research note on Friday, October 11th. Truist Financial dropped their price target on Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. Finally, HC Wainwright restated a "buy" rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th.

Sutro Biopharma Trading Up 3.5 %

Sutro Biopharma stock traded up $0.09 during mid-day trading on Thursday, reaching $2.69. The company's stock had a trading volume of 574,483 shares, compared to its average volume of 816,993. Sutro Biopharma has a twelve month low of $2.25 and a twelve month high of $6.13. The business has a 50 day moving average price of $3.48 and a 200-day moving average price of $3.75. The firm has a market cap of $221.81 million, a price-to-earnings ratio of -1.67 and a beta of 1.17.

Institutional Trading of Sutro Biopharma

Several large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. grew its stake in shares of Sutro Biopharma by 1,606.1% in the second 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 in the last quarter. Bank of Montreal Can acquired a new stake in Sutro Biopharma in the third quarter worth about $2,852,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Sutro Biopharma in the 3rd quarter valued at about $1,512,000. Acadian Asset Management LLC increased its stake in Sutro Biopharma by 30.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company's stock valued at $4,613,000 after buying an additional 370,705 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Sutro Biopharma by 691.5% during the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company's stock worth $831,000 after buying an additional 247,694 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

About Sutro Biopharma

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.