Sutro Biopharma price target lowered to $8 from $12 at Wedbush

Wedbush lowered the firm’s price target on Sutro Biopharma to $8 from $12 and keeps an Outperform rating on the shares following quarterly results. The company continues to make progress with its lead asset luvelta, a FolRalpha-targeting ADC. Luvelta has the potential to address several indications, the firm says.