Wells Fargo & Company Cuts Sutro Biopharma (NASDAQ:STRO) Price Target to $4.00

Sutro Biopharma (NASDAQ:STRO) had its target price lowered by analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 61.94% from the stock’s previous close.

STRO has been the subject of several other reports. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a research report on Monday, November 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a research report on Friday, October 11th. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a research report on Tuesday. Truist Financial reduced their price objective on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.13.

Sutro Biopharma Price Performance

Shares of NASDAQ:STRO traded up $0.12 during midday trading on Wednesday, hitting $2.47. 1,024,882 shares of the company’s stock were exchanged, compared to its average volume of 842,254. The stock has a 50 day moving average price of $3.33 and a 200-day moving average price of $3.65. The company has a market cap of $203.68 million, a PE ratio of -1.54 and a beta of 1.09. Sutro Biopharma has a 12 month low of $2.31 and a 12 month high of $6.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Sutro Biopharma during the 3rd quarter valued at approximately $77,000. Barclays PLC grew its position in shares of Sutro Biopharma by 385.3% during the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock valued at $944,000 after acquiring an additional 216,757 shares during the period. Geode Capital Management LLC grew its position in shares of Sutro Biopharma by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock valued at $6,426,000 after acquiring an additional 132,015 shares during the period. XTX Topco Ltd grew its position in shares of Sutro Biopharma by 222.0% during the 3rd quarter. XTX Topco Ltd now owns 104,200 shares of the company’s stock valued at $361,000 after acquiring an additional 71,844 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Sutro Biopharma by 30.7% during the 3rd quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock valued at $374,000 after acquiring an additional 25,416 shares during the period. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.