Sutro Biopharma (NASDAQ:STRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sutro Biopharma (NASDAQ:STRO) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also recently commented on STRO. Weiss Ratings cut Sutro Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 19th. Stifel Nicolaus set a $48.00 price target on shares of Sutro Biopharma and gave the stock a “buy” rating in a research note on Friday, August 7th. Mizuho upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Wednesday, September 16th. HC Wainwright reaffirmed a “buy” rating on shares of Sutro Biopharma in a research note on Friday, October 16th. Finally, Wedbush reaffirmed 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 issued a Sell rating to the company. According to MarketBeat, Sutro Biopharma presently has an average rating of “Buy” and a consensus target price of $49.50.

Sutro Biopharma Trading Up 0.1%

Shares of STRO stock opened at $9.11 on Friday. Sutro Biopharma has a 1-year low of $7.15 and a 1-year high of $43.85. The company has a market capitalization of $151.04 million, a price-to-earnings ratio of -0.76 and a beta of 1.49. The stock’s fifty day simple moving average is $15.15 and its 200-day simple moving average is $22.77.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The company had revenue of $9.84 million during the quarter, compared to analysts’ expectations of $11.96 million. On average, sell-side analysts predict that Sutro Biopharma will post -8.41 EPS for the current year.

Institutional Trading of Sutro Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of STRO. Merck & Co. Inc. acquired a new position in Sutro Biopharma in the 2nd quarter valued at $9,042,053. Seven Fleet Capital Management LP bought a new position in Sutro Biopharma in the 2nd quarter worth $5,283,000. Perceptive Advisors LLC acquired a new position in Sutro Biopharma during the 1st quarter worth $17,818,000. Affinity Asset Advisors LLC lifted its position in Sutro Biopharma by 42.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after acquiring an additional 321,137 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Sutro Biopharma during the 2nd quarter worth $1,373,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Company Profile

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.