Sutro Biopharma (NASDAQ:STRO) PT Lowered to $12.00 at HC Wainwright

Sutro Biopharma (NASDAQ:STRO) had its target price cut by HC Wainwright from $16.00 to $12.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Sutro Biopharma’s Q1 2024 earnings at ($0.95) EPS, Q2 2024 earnings at ($0.97) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($4.12) EPS, FY2025 earnings at ($3.73) EPS, FY2026 earnings at ($3.64) EPS, FY2027 earnings at ($3.12) EPS and FY2028 earnings at ($1.87) EPS.

Separately, Wedbush restated an outperform rating and issued a $12.00 target price on shares of Sutro Biopharma in a report on Friday, January 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and an average target price of $13.71.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $5.65 on Tuesday. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.13. The firm has a 50 day moving average price of $4.53 and a 200 day moving average price of $3.79. The company has a market cap of $352.79 million, a price-to-earnings ratio of -3.17 and a beta of 0.95.

Insider Buying and Selling at Sutro Biopharma

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 shares were sold at an average price of $5.00, for a total transaction of $60,925.00. Following the transaction, the insider now directly owns 12,803 shares of the company’s stock, valued at $64,015. The sale was disclosed in a filing with the SEC, which is available at this link. 6.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its position in Sutro Biopharma by 331.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock valued at $46,000 after buying an additional 4,372 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Sutro Biopharma during the first quarter worth $56,000. Nisa Investment Advisors LLC lifted its position in shares of Sutro Biopharma by 14,125.8% during 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Sutro Biopharma during the second quarter worth $46,000. Finally, Quantbot Technologies LP lifted its position in shares of Sutro Biopharma by 117.1% during 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 in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

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.