Sutro Biopharma (NASDAQ:STRO) Stock Rating Upgraded by Wall Street Zen

Sutro Biopharma (NASDAQ:STRO) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also issued reports on STRO. Wells Fargo & Company started coverage on shares of Sutro Biopharma in a research report on Wednesday, September 30th. They set an “overweight” rating and a $49.00 target price for the company. Citizens Jmp decreased their price target on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings cut shares of Sutro Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 19th. Citigroup reissued a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Finally, Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Sutro Biopharma in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $49.50.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO opened at $9.10 on Friday. The stock has a market capitalization of $150.88 million, a price-to-earnings ratio of -0.76 and a beta of 1.49. The stock’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $22.77. Sutro Biopharma has a 52-week low of $7.15 and a 52-week high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The business had revenue of $9.84 million during the quarter, compared to analyst estimates of $11.96 million. As a group, equities analysts forecast that Sutro Biopharma will post -8.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STRO. Squarepoint Ops LLC bought a new position in shares of Sutro Biopharma in the second quarter worth approximately $1,844,000. Seven Fleet Capital Management LP purchased a new position in shares of Sutro Biopharma during the 2nd quarter valued at $5,283,000. Wellington Management Group LLP purchased a new position in shares of Sutro Biopharma during the 2nd quarter valued at $359,000. Merck & Co. Inc. purchased a new position in shares of Sutro Biopharma during the 2nd quarter valued at $9,042,053. Finally, Bank of New York Mellon Corp bought a new position in Sutro Biopharma in the 2nd quarter worth $1,373,000. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biotechnology company focused on developing medicines for cancer and other serious diseases. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture targeted biologic therapies, including antibody-drug conjugates (ADCs) and cancer immunotherapies.

Sutro’s research programs have included luveltamab tazevibulin, also known as STRO-002, a folate receptor alpha-targeted ADC being investigated for ovarian and endometrial cancers.