Sutro Biopharma (NASDAQ:STRO) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report sent to investors on Tuesday morning, Benzinga reports. JMP Securities currently has a $17.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on STRO. HC Wainwright decreased their price objective on shares of Sutro Biopharma from $16.00 to $12.00 and set a buy rating for the company in a research report on Tuesday. Wedbush reissued an outperform rating and set a $12.00 price target on shares of Sutro Biopharma in a research report on Friday, January 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sutro Biopharma has a consensus rating of Buy and a consensus target price of $13.71.

Sutro Biopharma Price Performance

Shares of STRO opened at $4.93 on Tuesday. The stock has a market cap of $300.48 million, a PE ratio of -2.77 and a beta of 0.95. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.11. The stock’s 50-day moving average is $4.47 and its two-hundred day moving average is $3.77.

Insider Activity

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 12,803 shares in the company, valued at $64,015. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRO. Adage Capital Partners GP L.L.C. increased its stake in shares of Sutro Biopharma by 1,275.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after purchasing an additional 2,879,412 shares during the period. Candriam S.C.A. lifted its stake in Sutro Biopharma by 135.8% during the first quarter. Candriam S.C.A. now owns 1,860,775 shares of the company’s stock valued at $7,913,000 after buying an additional 1,071,591 shares in the last quarter. State Street Corp lifted its holdings in shares of Sutro Biopharma by 57.9% in the first quarter. State Street Corp now owns 2,922,712 shares of the company’s stock valued at $13,503,000 after purchasing an additional 1,071,427 shares in the last quarter. BlackRock Inc. boosted its position in Sutro Biopharma by 19.6% during the 2nd quarter. BlackRock Inc. now owns 6,005,557 shares of the company’s stock worth $27,926,000 after acquiring an additional 984,734 shares during the period. Finally, Kynam Capital Management LP boosted its holdings in shares of Sutro Biopharma by 66.3% during the second quarter. Kynam Capital Management LP now owns 1,500,000 shares of the company’s stock worth $6,975,000 after purchasing an additional 598,164 shares during the period. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

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.