ValuEngine downgraded shares of Sutro Biopharma (NASDAQ:STRO) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Several other equities research analysts have also recently weighed in on the company. SunTrust Banks assumed coverage on Sutro Biopharma in a research note on Monday. They set a buy rating and a $18.00 price objective on the stock. Zacks Investment Research raised Sutro Biopharma from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research note on Thursday, January 9th. BTIG Research assumed coverage on Sutro Biopharma in a research note on Monday, October 7th. They set a buy rating and a $19.00 price objective on the stock. Wedbush reissued an outperform rating on shares of Sutro Biopharma in a research note on Wednesday, October 30th. Finally, HC Wainwright reissued a buy rating and set a $18.00 price objective on shares of Sutro Biopharma in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $18.29.

NASDAQ STRO traded down $0.08 during trading hours on Tuesday, hitting $11.69. 828 shares of the company were exchanged, compared to its average volume of 113,111. The stock has a 50-day moving average price of $11.09 and a 200 day moving average price of $10.39. Sutro Biopharma has a 52 week low of $7.69 and a 52 week high of $12.75. The stock has a market cap of $277.08 million, a PE ratio of -1.92 and a beta of 1.11.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.56) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.09. The company had revenue of $12.28 million for the quarter, compared to the consensus estimate of $8.88 million. As a group, analysts expect that Sutro Biopharma will post -2.49 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in shares of Sutro Biopharma by 240.7% during the second quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock valued at $130,000 after buying an additional 8,113 shares during the last quarter. Barclays PLC boosted its holdings in shares of Sutro Biopharma by 30.9% in the third quarter. Barclays PLC now owns 12,732 shares of the company’s stock valued at $116,000 after purchasing an additional 3,006 shares during the period. Rhumbline Advisers boosted its holdings in shares of Sutro Biopharma by 9.3% in the third quarter. Rhumbline Advisers now owns 13,578 shares of the company’s stock valued at $123,000 after purchasing an additional 1,156 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Sutro Biopharma by 67.7% in the third quarter. Squarepoint Ops LLC now owns 20,951 shares of the company’s stock valued at $190,000 after purchasing an additional 8,456 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Sutro Biopharma by 72.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 22,592 shares of the company’s stock valued at $258,000 after purchasing an additional 9,482 shares during the period. 47.96% of the stock is currently owned by hedge funds and other institutional investors.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.

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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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