Sutro Biopharma, Inc. (NASDAQ:STRO) Receives Consensus Recommendation of “Buy” from Analysts

Sutro Biopharma, Inc. (NASDAQ:STRO) has been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $12.57.

Several brokerages recently commented on STRO. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Oppenheimer reissued an “outperform” rating and issued a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price objective (down previously from $12.00) on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Finally, Truist Financial lowered their price target on shares of Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd.

Insiders Place Their Bets

In other news, insider Nicki Vasquez sold 12,185 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $5.00, for a total value of $60,925.00. Following the sale, the insider now directly owns 12,803 shares of the company’s stock, valued at approximately $64,015. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Sutro Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Sutro Biopharma by 19.6% during the 2nd 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 during the last quarter. Adage Capital Partners GP L.L.C. increased 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 buying an additional 2,879,412 shares during the last quarter. State Street Corp grew its position in shares of Sutro Biopharma by 57.9% during the 1st 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 during the period. Finally, Vanguard Group Inc. grew its position in shares of Sutro Biopharma by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,890,000 shares of the company’s stock valued at $12,398,000 after acquiring an additional 21,238 shares during the period. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Stock Down 4.8 %

NASDAQ STRO opened at $3.94 on Wednesday. The company’s 50 day moving average is $4.53 and its 200-day moving average is $3.87. Sutro Biopharma has a 12-month low of $2.01 and a 12-month high of $6.13. The firm has a market cap of $246.01 million, a P/E ratio of -2.21 and a beta of 0.95.

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.