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Sutro Biopharma price target lowered to $3 from $4 at Wells Fargo

Wells Fargo lowered the firm’s price target on Sutro Biopharma (STRO) to $3 from $4 and keeps an Equal Weight rating on the shares. The firm remains on the sidelines given the early nature of Sutro’s clinical pipeline as management works to get its multiple ADC programs into the clinic. Shares are likely to remain range bound, Wells adds.

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