Wedbush Trims Sutro Biopharma (NASDAQ:STRO) Target Price to $8.00

Sutro Biopharma (NASDAQ:STRO) had its target price cut by Wedbush from $12.00 to $8.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for Sutro Biopharma’s Q1 2024 earnings at ($0.93) EPS, Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($1.17) EPS, Q4 2024 earnings at ($0.81) EPS, FY2024 earnings at ($3.79) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.88) EPS, Q3 2025 earnings at ($0.74) EPS, Q4 2025 earnings at ($0.76) EPS, FY2025 earnings at ($3.19) EPS, FY2026 earnings at ($2.94) EPS, FY2027 earnings at ($1.82) EPS and FY2028 earnings at ($0.50) EPS.

STRO has been the topic of several other reports. HC Wainwright lowered their target price on Sutro Biopharma from $16.00 to $12.00 and set a buy rating on the stock in a research note on Tuesday. JMP Securities restated a market outperform rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $13.71.

Sutro Biopharma Price Performance

Shares of STRO opened at $5.65 on Tuesday. The firm has a market cap of $352.79 million, a PE ratio of -3.17 and a beta of 0.95. The stock’s fifty day moving average price is $4.53 and its two-hundred day moving average price is $3.79. Sutro Biopharma has a 1 year low of $2.01 and a 1 year high of $6.13.

Insider Activity at Sutro Biopharma

In related news, insider Nicki Vasquez sold 12,185 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $5.00, for a total transaction of $60,925.00. Following the sale, the insider now directly owns 12,803 shares in the company, valued at approximately $64,015. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors have recently added to or reduced their stakes in STRO. Nisa Investment Advisors LLC increased its stake in Sutro Biopharma by 14,125.8% in the 4th 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 during the last quarter. Point72 Hong Kong Ltd bought a new position in Sutro Biopharma in the 2nd quarter worth about $46,000. Wells Fargo & Company MN increased its stake in Sutro Biopharma by 331.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock worth $46,000 after acquiring an additional 4,372 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Sutro Biopharma by 342.3% in the 3rd 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 purchased a new position in shares of Sutro Biopharma in the 2nd quarter worth about $54,000. 96.99% of the stock is currently owned by institutional investors.

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.