Truist Financial Cuts Sutro Biopharma (NASDAQ:STRO) Price Target to $18.00

Sutro Biopharma (NASDAQ:STRO - Get Free Report) had its price objective decreased by stock analysts at Truist Financial from $25.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 253.63% from the stock's current price.

STRO has been the topic of a number of other reports. Oppenheimer reissued an "outperform" rating and issued a $10.00 price objective on shares of Sutro Biopharma in a research note on Wednesday. HC Wainwright reduced their target price on shares of Sutro Biopharma from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 26th. Wedbush reduced their target price on shares of Sutro Biopharma from $12.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, March 26th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $12.57.

Sutro Biopharma Price Performance

NASDAQ:STRO remained flat at $5.09 during mid-day trading on Wednesday. 2,577,927 shares of the company were exchanged, compared to its average volume of 1,012,833. The business has a 50 day simple moving average of $4.56 and a 200-day simple moving average of $3.81. The stock has a market capitalization of $317.82 million, a PE ratio of -2.86 and a beta of 0.95. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.13.

Insider Activity at Sutro Biopharma

In related news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $5.00, for a total transaction of $60,925.00. Following the completion of the transaction, the insider now directly owns 12,803 shares of the company's stock, valued at approximately $64,015. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sutro Biopharma

Large investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. lifted its holdings in Sutro Biopharma by 1,275.7% during the third 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 in the last quarter. Candriam S.C.A. lifted its holdings in Sutro Biopharma by 135.8% during the first quarter. Candriam S.C.A. now owns 1,860,775 shares of the company's stock valued at $7,913,000 after purchasing an additional 1,071,591 shares in the last quarter. State Street Corp lifted its holdings in Sutro Biopharma by 57.9% during the first quarter. State Street Corp now owns 2,922,712 shares of the company's stock valued at $13,503,000 after purchasing an additional 1,071,427 shares in the last quarter. BlackRock Inc. lifted its holdings in Sutro Biopharma by 19.6% during the second quarter. BlackRock Inc. now owns 6,005,557 shares of the company's stock valued at $27,926,000 after purchasing an additional 984,734 shares in the last quarter. Finally, Kynam Capital Management LP lifted its holdings in Sutro Biopharma by 66.3% during the second quarter. Kynam Capital Management LP now owns 1,500,000 shares of the company's stock valued at $6,975,000 after purchasing an additional 598,164 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. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.