Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $12.57

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $12.57.

A number of analysts recently weighed in on STRO shares. JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and issued a $8.00 price target on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and set a $11.00 price target (down from $12.00) on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Finally, HC Wainwright reduced their target price on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th.

Sutro Biopharma Trading Down 3.7 %

Sutro Biopharma stock opened at $3.63 on Wednesday. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $6.13. The firm has a 50-day moving average price of $4.47 and a 200-day moving average price of $3.87. The firm has a market capitalization of $226.66 million, a PE ratio of -2.04 and a beta of 0.95.

Insider Activity

In related news, insider Nicki Vasquez sold 12,185 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $5.00, for a total value of $60,925.00. Following the transaction, the insider now owns 12,803 shares of the company’s stock, valued at $64,015. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Trading of Sutro Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. increased its position in Sutro Biopharma by 1,275.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after purchasing an additional 2,879,412 shares during the period. Acadian Asset Management LLC increased its holdings in Sutro Biopharma by 18.2% during the third quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock valued at $2,684,000 after buying an additional 119,399 shares during the period. Panagora Asset Management Inc. raised its stake in Sutro Biopharma by 8.3% in the third quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock worth $1,281,000 after buying an additional 28,160 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Sutro Biopharma by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock worth $154,000 after buying an additional 9,092 shares during the period. Finally, SG Americas Securities LLC boosted its position in Sutro Biopharma by 25.6% during the 4th quarter. SG Americas Securities LLC now owns 40,779 shares of the company’s stock valued at $175,000 after acquiring an additional 8,314 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors.

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.