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

Sutro Biopharma (NASDAQ:STRO) had its price target trimmed by HC Wainwright from $16.00 to $12.00 in a report published on Tuesday, Benzinga reports. The firm currently has 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 reiterated an outperform rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research note on Friday, January 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $13.71.

Sutro Biopharma Stock Up 14.6 %

NASDAQ:STRO opened at $5.65 on Tuesday. The stock has a market capitalization of $352.79 million, a price-to-earnings ratio of -3.17 and a beta of 0.95. Sutro Biopharma has a 52 week low of $2.01 and a 52 week high of $6.13. The stock’s fifty day moving average is $4.50 and its two-hundred day moving average is $3.79.

Insider Buying and Selling

In related news, insider Nicki Vasquez sold 12,185 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the transaction, the insider now owns 12,803 shares of the company’s stock, valued at $64,015. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Sutro Biopharma by 8.2% during the 1st quarter. Swiss National Bank now owns 76,600 shares of the company’s stock valued at $630,000 after acquiring an additional 5,800 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Sutro Biopharma by 204.1% during the 1st quarter. JPMorgan Chase & Co. now owns 170,766 shares of the company’s stock valued at $1,403,000 after acquiring an additional 114,610 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Sutro Biopharma during the 1st quarter worth approximately $1,233,000. MetLife Investment Management LLC raised its position in shares of Sutro Biopharma by 55.3% during the 1st quarter. MetLife Investment Management LLC now owns 25,503 shares of the company’s stock worth $210,000 after purchasing an additional 9,080 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Sutro Biopharma by 0.8% in the 1st quarter. BlackRock Inc. now owns 3,728,829 shares of the company’s stock worth $30,650,000 after acquiring an additional 28,786 shares during the period. Institutional investors and hedge funds 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.