Wells Fargo & Company Issues Pessimistic Forecast for Sutro Biopharma (NASDAQ:STRO) Stock Price

Sutro Biopharma (NASDAQ:STRO) had its target price reduced by Wells Fargo & Company from $5.00 to $4.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also weighed in on the company. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a research report on Monday, November 18th. Truist Financial dropped their target price on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Wedbush reiterated an “outperform” rating and issued a $8.00 price target on shares of Sutro Biopharma in a research note on Tuesday. Piper Sandler reissued an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.13.

Sutro Biopharma Price Performance

Shares of STRO opened at $2.12 on Wednesday. The company has a 50-day simple moving average of $3.26 and a two-hundred day simple moving average of $3.62. The firm has a market capitalization of $174.82 million, a PE ratio of -1.32 and a beta of 1.09. Sutro Biopharma has a one year low of $2.08 and a one year high of $6.13.

Institutional Trading of Sutro Biopharma

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 3,578 shares during the last quarter. ProShare Advisors LLC boosted its stake in Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Sutro Biopharma by 9.7% in the 2nd quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock worth $173,000 after purchasing an additional 5,404 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Sutro Biopharma by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after purchasing an additional 7,082 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in shares of Sutro Biopharma during the third quarter valued at $28,000. 96.99% of the stock is owned by hedge funds and other 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.