Sutro Biopharma (NASDAQ:STRO) Given Outperform Rating at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Sutro Biopharma (NASDAQ:STROFree Report) in a research note issued to investors on Wednesday, Benzinga reports. Oppenheimer currently has a $10.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. HC Wainwright dropped their target price on shares of Sutro Biopharma from $16.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, March 26th. JMP Securities reissued a market outperform rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday. Finally, Wedbush dropped their target price on shares of Sutro Biopharma from $12.00 to $8.00 and set an outperform rating on the stock in a research report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $12.57.

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Sutro Biopharma Price Performance

Sutro Biopharma stock opened at $5.09 on Wednesday. The firm’s 50 day simple moving average is $4.56 and its 200-day simple moving average is $3.81. The company has a market cap of $317.82 million, a P/E 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 the business’s stock in a transaction that occurred 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 $64,015. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.90% of the stock is currently owned by insiders.

Institutional Trading of Sutro Biopharma

A number of institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in Sutro Biopharma by 14.3% in the first quarter. American Century Companies Inc. now owns 14,656 shares of the company’s stock valued at $66,000 after acquiring an additional 1,833 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Sutro Biopharma by 9.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 20,667 shares of the company’s stock valued at $167,000 after acquiring an additional 1,864 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Sutro Biopharma by 13.9% in the first quarter. Principal Financial Group Inc. now owns 15,348 shares of the company’s stock valued at $71,000 after acquiring an additional 1,874 shares during the last quarter. American International Group Inc. lifted its stake in Sutro Biopharma by 9.8% in the fourth quarter. American International Group Inc. now owns 25,500 shares of the company’s stock valued at $206,000 after acquiring an additional 2,273 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Sutro Biopharma by 24.2% in the first quarter. Prudential Financial Inc. now owns 14,390 shares of the company’s stock valued at $66,000 after acquiring an additional 2,800 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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