Sutro Biopharma (NASDAQ:STRO) Given New $18.00 Price Target at Truist Financial

Sutro Biopharma (NASDAQ:STROFree Report) had its price objective decreased by Truist Financial from $25.00 to $18.00 in a report published on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. JMP Securities reaffirmed a market outperform rating and set a $17.00 price target on shares of Sutro Biopharma in a report on Wednesday. HC Wainwright dropped their target price on Sutro Biopharma from $16.00 to $12.00 and set a buy rating for the company in a report on Tuesday, March 26th. Oppenheimer reissued an outperform rating and set a $10.00 target price on shares of Sutro Biopharma in a report on Wednesday. Finally, Wedbush dropped their target price on Sutro Biopharma from $12.00 to $8.00 and set an outperform rating for the company in a report on Tuesday, March 26th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and an average target price of $12.57.

View Our Latest Research Report on STRO

Sutro Biopharma Price Performance

Shares of Sutro Biopharma stock opened at $5.09 on Wednesday. The business has a fifty day simple moving average of $4.56 and a two-hundred day simple moving average of $3.81. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.13. The company has a market capitalization of $317.82 million, a price-to-earnings ratio of -2.86 and a beta of 0.95.

Insider Buying and Selling

In related news, insider Nicki Vasquez sold 12,185 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $5.00, for a total value of $60,925.00. Following the transaction, the insider now owns 12,803 shares in the company, valued at $64,015. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in shares of Sutro Biopharma by 331.7% in the fourth quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock worth $46,000 after purchasing an additional 4,372 shares during the period. Lazard Asset Management LLC bought a new position in shares of Sutro Biopharma in the first quarter worth $56,000. Nisa Investment Advisors LLC increased its position in shares of Sutro Biopharma by 14,125.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after purchasing an additional 8,758 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Sutro Biopharma in the second quarter worth $46,000. Finally, Quantbot Technologies LP increased its position in shares of Sutro Biopharma by 117.1% in the first quarter. Quantbot Technologies LP now owns 8,900 shares of the company’s stock worth $73,000 after purchasing an additional 4,800 shares during the period. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

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