Brokerages Set Sutro Biopharma, Inc. (NASDAQ:STRO) Target Price at $17.33

Posted by Defense World Staff on May 23rd, 2023

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO – Get Rating) have received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $17.33.

STRO has been the topic of several research reports. JMP Securities reduced their price target on shares of Sutro Biopharma from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, April 3rd. HC Wainwright reduced their target price on shares of Sutro Biopharma from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 31st. Wells Fargo & Company lowered shares of Sutro Biopharma from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $15.00 to $8.00 in a report on Tuesday, March 21st. Finally, Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of Sutro Biopharma in a research report on Friday, March 31st.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $5.31 on Friday. Sutro Biopharma has a 52 week low of $3.33 and a 52 week high of $8.72. The firm has a market cap of $319.61 million, a P/E ratio of -2.23 and a beta of 0.88. The business’s fifty day moving average is $4.91 and its two-hundred day moving average is $6.31.

Institutional Investors Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN boosted its holdings in Sutro Biopharma by 331.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock worth $46,000 after buying an additional 4,372 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Sutro Biopharma in the 3rd quarter valued at approximately $37,000. Lazard Asset Management LLC bought a new position in Sutro Biopharma during the 1st quarter worth approximately $56,000. Point72 Hong Kong Ltd acquired a new position in Sutro Biopharma during the second quarter valued at approximately $46,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Sutro Biopharma in the third quarter valued at approximately $51,000. 87.64% of the stock is owned by institutional investors.

Sutro Biopharma Company Profile

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Sutro Biopharma Inc engages in the drug discovery, development and manufacture of pharmaceutical products. It focuses on the next generation cancer and autoimmune therapeutics. The company was founded by James R. Swartz and Sutanto Widjaja on April 21, 2003 and is headquartered in South San Francisco, CA.