Why Sutro Biopharma's Stock Is Trading Lower Today

Sutro Biopharma STRO shares are trading lower on Thursday after Wells Fargo initiated coverage on the stock with an Overweight rating and an $18 price target.

Sutro Biopharma Inc is a clinical stage drug discovery, development, and manufacturing company. It is mainly engaged in the development of biopharmaceutical products. The company manufactures next-generation protein therapeutics for cancer and autoimmune disorders through its proprietary integrated cell-free protein synthesis platform, XpressCF.

Products offered by the company include STRO-001 for patients with multiple myeloma and non-Hodgkin lymphoma and STRO-002 for the treatment of ovarian and endometrial cancers.

Sutro Biopharma shares were trading down 2.58% at $8.67 on Thursday. The stock has a 52-week high of $12.75 and a 52-week low of $6.