Sutro Biopharma (NASDAQ:STRO) Cut to Strong Sell at Wall Street Zen

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

Other equities analysts have also issued reports about the company. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of Sutro Biopharma in a report on Thursday, October 15th. Weiss Ratings raised Sutro Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Citizens Jmp lowered their price objective on Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a report on Thursday, August 13th. Citigroup reissued a “market outperform” rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Finally, HC Wainwright restated a “buy” rating on shares of Sutro Biopharma in a report on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $49.50.

Sutro Biopharma Stock Down 4.1%

Shares of STRO opened at $10.17 on Friday. The firm has a market cap of $168.62 million, a price-to-earnings ratio of -0.85 and a beta of 1.56. The company’s fifty day moving average is $13.82 and its 200-day moving average is $22.63. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last released 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 for the quarter, compared to analyst estimates of $11.96 million. As a group, research analysts predict that Sutro Biopharma will post -8.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in shares of Sutro Biopharma during the 2nd quarter worth about $1,844,000. Seven Fleet Capital Management LP acquired a new stake in Sutro Biopharma in the 2nd quarter valued at approximately $5,283,000. Wellington Management Group LLP acquired a new stake in Sutro Biopharma in the 2nd quarter valued at approximately $359,000. Merck & Co. Inc. bought a new position in Sutro Biopharma in the 2nd quarter worth approximately $9,042,053. Finally, Bank of New York Mellon Corp bought a new position in Sutro Biopharma in the 2nd quarter worth approximately $1,373,000. 96.99% of the stock is 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.