Wedbush restated their outperform rating on shares of Sutro Biopharma (NASDAQ:STRO - Free Report) in a research note issued to investors on Wednesday, RTT News reports. The firm currently has a $8.00 price target on the stock.
STRO has been the topic of a number of other reports. Piper Sandler restated an overweight rating and issued a $11.00 price objective (down from $12.00) on shares of Sutro Biopharma in a report on Wednesday. Truist Financial reduced their price objective on shares of Sutro Biopharma from $25.00 to $18.00 and set a buy rating on the stock in a report on Wednesday. HC Wainwright reduced their price objective 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. JMP Securities restated a market outperform rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Wednesday. Finally, Oppenheimer reiterated an outperform rating and set a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and an average target price of $12.57.
View Our Latest Research Report on Sutro Biopharma
Sutro Biopharma Stock Performance
Sutro Biopharma stock remained flat at $5.09 during mid-day trading on Wednesday. 2,577,927 shares of the company's stock were exchanged, compared to its average volume of 1,012,833. The firm has a market capitalization of $317.82 million, a P/E ratio of -2.86 and a beta of 0.95. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.13. The stock's fifty day simple moving average is $4.56 and its two-hundred day simple moving average is $3.81.
Insider Buying and Selling
In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of the firm's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $5.00, for a total transaction of $60,925.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of STRO. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Sutro Biopharma by 1,275.7% in 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 acquiring an additional 2,879,412 shares in the last quarter. Candriam S.C.A. boosted its holdings in shares of Sutro Biopharma by 135.8% in the first quarter. Candriam S.C.A. now owns 1,860,775 shares of the company's stock valued at $7,913,000 after acquiring an additional 1,071,591 shares in the last quarter. State Street Corp boosted its holdings in shares of Sutro Biopharma by 57.9% in the first quarter. State Street Corp now owns 2,922,712 shares of the company's stock valued at $13,503,000 after acquiring an additional 1,071,427 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Sutro Biopharma by 19.6% in the second quarter. BlackRock Inc. now owns 6,005,557 shares of the company's stock valued at $27,926,000 after acquiring an additional 984,734 shares in the last quarter. Finally, Kynam Capital Management LP boosted its holdings in shares of Sutro Biopharma by 66.3% in the second quarter. Kynam Capital Management LP now owns 1,500,000 shares of the company's stock valued at $6,975,000 after acquiring an additional 598,164 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.
About Sutro Biopharma
(
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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.
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