Analysts Set Sutro Biopharma, Inc. (NASDAQ:STRO) Price Target at $12.14

Sutro Biopharma, Inc. (NASDAQ:STRO) has earned a consensus rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.14.

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

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $2.65 on Thursday. Sutro Biopharma has a one year low of $2.45 and a one year high of $6.13. The company has a 50-day simple moving average of $3.44 and a 200-day simple moving average of $3.73. The firm has a market capitalization of $218.52 million, a P/E ratio of -1.65 and a beta of 1.17.

Hedge Funds Weigh In On Sutro Biopharma

Several hedge funds have recently bought and sold shares of STRO. Virtu Financial LLC acquired a new position in Sutro Biopharma during the third quarter valued at approximately $77,000. Barclays PLC raised its holdings in Sutro Biopharma by 385.3% in the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock worth $944,000 after acquiring an additional 216,757 shares during the period. Geode Capital Management LLC lifted its position in Sutro Biopharma by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after acquiring an additional 132,015 shares during the last quarter. XTX Topco Ltd lifted its position in Sutro Biopharma by 222.0% during the 3rd quarter. XTX Topco Ltd now owns 104,200 shares of the company’s stock worth $361,000 after acquiring an additional 71,844 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Sutro Biopharma by 30.7% during the third quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock valued at $374,000 after acquiring an additional 25,416 shares during the period. 96.99% of the stock is 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.