Wells Fargo & Company Lowers Sutro Biopharma (NASDAQ:STRO) Price Target to $4.00

Sutro Biopharma (NASDAQ:STRO) had its target price lowered by research analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 81.82% from the company’s current price.

STRO has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday, November 18th. Wedbush reiterated an “outperform” rating and issued a $8.00 target price on shares of Sutro Biopharma in a research note on Tuesday. Truist Financial reduced their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a research note on Friday, October 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.13.

Sutro Biopharma Stock Performance

Shares of STRO opened at $2.20 on Wednesday. The company’s fifty day moving average is $3.29 and its 200 day moving average is $3.63. The stock has a market capitalization of $181.41 million, a PE ratio of -1.37 and a beta of 1.09. Sutro Biopharma has a fifty-two week low of $2.19 and a fifty-two week high of $6.13.

Institutional Trading of Sutro Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of STRO. Point72 Asset Management L.P. grew its stake in Sutro Biopharma by 1,606.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock worth $13,032,000 after buying an additional 4,186,938 shares during the last quarter. Bank of Montreal Can purchased a new stake in Sutro Biopharma in the third quarter valued at $2,852,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sutro Biopharma during the third quarter valued at approximately $1,512,000. Acadian Asset Management LLC grew its position in Sutro Biopharma by 30.8% during 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 during the period. Finally, AQR Capital Management LLC boosted its position in Sutro Biopharma by 691.5% during the second quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock worth $831,000 after purchasing an additional 247,694 shares in the last quarter. Institutional investors 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.