Sutro Biopharma (NASDAQ: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.
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