Sutro Biopharma (NASDAQ:STRO) Earns “Market Outperform” Rating from JMP Securities

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $17.00 price target on the stock.

A number of other research analysts have also recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $8.00 price target on shares of Sutro Biopharma in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday, November 18th. Truist Financial decreased 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. Finally, Piper Sandler restated an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.13.

Sutro Biopharma Stock Down 10.2 %

STRO stock opened at $2.20 on Wednesday. Sutro Biopharma has a 12-month low of $2.19 and a 12-month high of $6.13. The business has a 50 day moving average of $3.29 and a 200-day moving average of $3.63. The firm has a market cap of $181.41 million, a PE ratio of -1.37 and a beta of 1.09.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new stake in Sutro Biopharma in the 3rd quarter valued at approximately $2,852,000. Acadian Asset Management LLC increased its position in shares of Sutro Biopharma by 30.8% in the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock valued at $4,613,000 after buying an additional 370,705 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Sutro Biopharma in the 3rd quarter worth about $1,512,000. AQR Capital Management LLC grew its stake in Sutro Biopharma by 691.5% in the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock valued at $831,000 after acquiring an additional 247,694 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Sutro Biopharma by 48.1% in the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock valued at $2,108,000 after purchasing an additional 233,700 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.