Sutro Biopharma's (STRO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Sutro Biopharma (NASDAQ:STRO - Free Report) in a report released on Monday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

Several other equities research analysts also recently issued reports on STRO. Truist Financial cut their price objective on shares of Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, August 16th. JMP Securities reissued a "market outperform" rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sutro Biopharma currently has an average rating of "Buy" and a consensus price target of $12.14.

Sutro Biopharma Stock Down 4.8 %

STRO stock traded down $0.14 during midday trading on Monday, reaching $2.75. The stock had a trading volume of 1,169,252 shares, compared to its average volume of 808,003. Sutro Biopharma has a twelve month low of $2.13 and a twelve month high of $6.13. The firm has a market cap of $226.76 million, a price-to-earnings ratio of -1.63 and a beta of 1.17. The business has a fifty day simple moving average of $3.74 and a two-hundred day simple moving average of $3.83.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in Sutro Biopharma in the third quarter worth $28,000. ProShare Advisors LLC grew its stake in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock worth $48,000 after purchasing an additional 5,373 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sutro Biopharma in the first quarter valued at about $92,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Sutro Biopharma by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company's stock valued at $102,000 after purchasing an additional 3,578 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Sutro Biopharma in the 3rd quarter worth $91,000. Hedge funds and other institutional investors own 96.99% of the company's stock.

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.