Sutro Biopharma, Inc. (NASDAQ:STRO) Receives $11.13 Consensus PT from Analysts

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) have earned an average rating of "Moderate Buy" from the eight ratings firms that are currently covering the company, MarketBeat.com 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 brokerages that have updated their coverage on the stock in the last year is $11.13.

STRO has been the subject of several analyst reports. Wells Fargo & Company lowered 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 research report on Wednesday, December 11th. Wedbush restated an "outperform" rating and set a $8.00 price objective on shares of Sutro Biopharma in a report on Tuesday, December 10th. Piper Sandler reaffirmed an "overweight" rating and set a $11.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. JMP Securities reissued a "market outperform" rating and set a $17.00 target price on shares of Sutro Biopharma in a research note on Wednesday, December 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.00 target price on shares of Sutro Biopharma in a research note on Monday, November 18th.

Institutional Trading of Sutro Biopharma

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Sutro Biopharma by 47.7% in the second 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 during the period. Panagora Asset Management Inc. boosted its position in shares of Sutro Biopharma by 15.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company's stock worth $2,659,000 after acquiring an additional 122,299 shares in the last quarter. Rhumbline Advisers increased its stake in Sutro Biopharma by 23.3% in the second quarter. Rhumbline Advisers now owns 116,099 shares of the company's stock valued at $340,000 after acquiring an additional 21,935 shares during the last quarter. Acadian Asset Management LLC raised its position in Sutro Biopharma by 30.8% during the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company's stock valued at $4,613,000 after purchasing an additional 370,705 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Sutro Biopharma by 48.1% in 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 in the last quarter. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Stock Performance

STRO traded up $0.01 during mid-day trading on Monday, reaching $1.89. The stock had a trading volume of 141,493 shares, compared to its average volume of 866,606. The firm's fifty day simple moving average is $3.10 and its two-hundred day simple moving average is $3.54. The stock has a market capitalization of $155.44 million, a P/E ratio of -1.17 and a beta of 1.09. Sutro Biopharma has a 52 week low of $1.70 and a 52 week high of $6.13.

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.