Sutro Biopharma (NASDAQ:STRO) Rating Increased to Strong-Buy at Mizuho

Mizuho upgraded shares of Sutro Biopharma (NASDAQ:STRO) to a strong-buy rating in a report published on Wednesday morning,Zacks reports.

A number of other brokerages have also commented on STRO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Wednesday, August 5th. Wall Street Zen downgraded Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Stifel Nicolaus set a $48.00 price target on Sutro Biopharma and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Citizens Jmp reduced their price objective on Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $47.30.

Sutro Biopharma Trading Down 0.8%

STRO opened at $15.48 on Wednesday. The business has a 50 day moving average of $22.08 and a 200-day moving average of $26.52. The stock has a market capitalization of $256.66 million, a price-to-earnings ratio of -1.29 and a beta of 1.48. Sutro Biopharma has a 1-year low of $7.15 and a 1-year high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The company had revenue of $9.84 million for the quarter, compared to analysts’ expectations of $11.96 million. Equities analysts predict that Sutro Biopharma will post -8.41 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

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

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture antibody-drug conjugates (ADCs) and immunostimulatory antibody conjugates intended to selectively target tumor cells while limiting damage to healthy tissue.

Sutro’s pipeline has included luveltamab tazevibulin, also known as luvelta or STRO-002, a folate receptor alpha-directed ADC being investigated for the treatment of ovarian and endometrial cancers.