Sutro Biopharma, Inc. (NASDAQ:STRO) Given Consensus Rating of “Buy” by Brokerages

Sutro Biopharma, Inc. (NASDAQ:STRO) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $12.14.

STRO has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $11.00 price target on shares of Sutro Biopharma in a report on Friday, October 11th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Monday, September 16th. Finally, Truist Financial cut their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new stake in shares of Sutro Biopharma during the third quarter worth about $28,000. ProShare Advisors LLC grew its position in Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares during the last quarter. Virtu Financial LLC purchased a new stake in Sutro Biopharma during the 3rd quarter worth approximately $77,000. Intech Investment Management LLC acquired a new position in Sutro Biopharma during the 3rd quarter valued at approximately $91,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Sutro Biopharma in the first quarter worth $92,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Sutro Biopharma Trading Up 3.5 %

Shares of STRO opened at $2.69 on Thursday. The company’s fifty day simple moving average is $3.51 and its 200-day simple moving average is $3.76. The company has a market cap of $221.81 million, a P/E ratio of -1.67 and a beta of 1.17. Sutro Biopharma has a twelve month low of $2.25 and a twelve month high of $6.13.

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.