Sutro Biopharma (NASDAQ:STRO) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Sutro Biopharma (NASDAQ:STRO) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $49.00 price objective on the stock.

A number of other analysts also recently commented on the stock. Mizuho upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Wednesday, September 16th. Wall Street Zen cut shares of Sutro Biopharma from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. Truist Financial initiated coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They issued a “buy” rating and a $50.00 price target on the stock. Stifel Nicolaus set a $48.00 price target on Sutro Biopharma and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $49.50.

Sutro Biopharma Trading Down 3.9%

Shares of Sutro Biopharma stock opened at $15.35 on Wednesday. The company’s 50-day moving average price is $20.13 and its two-hundred day moving average price is $25.94. Sutro Biopharma has a 52 week low of $7.15 and a 52 week high of $43.85. The stock has a market cap of $254.52 million, a PE ratio of -1.28 and a beta of 1.49.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The business had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million. On average, equities analysts predict that Sutro Biopharma will post -8.41 EPS for the current fiscal year.

Institutional Trading of Sutro Biopharma

Several institutional investors have recently made changes to their positions in STRO. Orbimed Advisors LLC purchased a new stake in Sutro Biopharma in the 1st quarter worth approximately $19,956,000. Perceptive Advisors LLC acquired a new stake in shares of Sutro Biopharma during the 1st quarter valued at $17,818,000. ADAR1 Capital Management LLC grew its holdings in shares of Sutro Biopharma by 681.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock valued at $13,064,000 after acquiring an additional 457,364 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in shares of Sutro Biopharma by 42.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after acquiring an additional 321,137 shares in the last quarter. Finally, Merck & Co. Inc. acquired a new position in shares of Sutro Biopharma in the second quarter worth $9,042,053. 96.99% of the stock is currently owned by institutional investors and hedge funds.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture antibody-drug conjugates (ADCs) and immunostimulatory antibody conjugates intended to selectively target tumor cells while limiting damage to healthy tissue.

Sutro’s pipeline has included luveltamab tazevibulin, also known as luvelta or STRO-002, a folate receptor alpha-directed ADC being investigated for the treatment of ovarian and endometrial cancers.