Sutro Biopharma, Inc. (NASDAQ:STRO) Given Average Recommendation of “Buy” by Analysts

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) have received an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $12.57.

Several equities research analysts have recently issued reports on STRO shares. Oppenheimer restated an “outperform” rating and set a $10.00 price objective on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Piper Sandler restated an “overweight” rating and set a $11.00 price objective (down previously from $12.00) on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Truist Financial decreased their price objective on Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. HC Wainwright decreased their price objective on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Finally, Wedbush restated an “outperform” rating and set a $8.00 price objective on shares of Sutro Biopharma in a report on Wednesday, April 3rd.

Sutro Biopharma Stock Down 4.8 %

Shares of NASDAQ STRO opened at $3.94 on Wednesday. The business has a 50-day moving average price of $4.53 and a 200 day moving average price of $3.87. The stock has a market cap of $246.01 million, a PE ratio of -2.21 and a beta of 0.95. Sutro Biopharma has a 52-week low of $2.01 and a 52-week high of $6.13.

Insider Activity at Sutro Biopharma

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the transaction, the insider now owns 12,803 shares in the company, valued at $64,015. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. increased its holdings in 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 buying an additional 2,879,412 shares during the last quarter. Candriam S.C.A. increased its holdings in 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 buying an additional 1,071,591 shares during the last quarter. State Street Corp increased its holdings in 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 buying an additional 1,071,427 shares during the last quarter. BlackRock Inc. increased its holdings in 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 buying an additional 984,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Sutro Biopharma by 75.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,173,199 shares of the company’s stock valued at $5,420,000 after buying an additional 505,656 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.