Sutro Biopharma (NASDAQ:STRO) Receives “Market Outperform” Rating from JMP Securities

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $17.00 target price on the stock. JMP Securities’ price target suggests a potential upside of 244.83% from the company’s previous close.

A number of other equities analysts have also recently commented on STRO. Wedbush reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Sutro Biopharma in a report on Friday, January 5th. HC Wainwright lowered their price objective on shares of Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $13.71.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO opened at $4.93 on Tuesday. The company has a market capitalization of $300.48 million, a price-to-earnings ratio of -2.77 and a beta of 0.95. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.11. The business has a 50-day moving average of $4.47 and a two-hundred day moving average of $3.77.

Insider Transactions at Sutro Biopharma

In other news, insider Nicki Vasquez sold 12,185 shares of Sutro Biopharma stock in a transaction dated 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 directly owns 12,803 shares of the company’s stock, valued at approximately $64,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake 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 acquiring an additional 8,758 shares in the last quarter. Wells Fargo & Company MN lifted its stake 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 purchasing an additional 4,372 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Sutro Biopharma during the second quarter valued at $46,000. Tower Research Capital LLC TRC lifted its holdings in Sutro Biopharma by 342.3% in the third quarter. Tower Research Capital LLC TRC now owns 15,128 shares of the company’s stock worth $52,000 after acquiring an additional 11,708 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Sutro Biopharma during the second quarter valued at $54,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.