Sutro Biopharma (NASDAQ:STRO) Rating Lowered to “Strong Sell” at Wall Street Zen

Sutro Biopharma (NASDAQ:STRO) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Several other research firms have also recently commented on STRO. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Sutro Biopharma in a report on Thursday, October 15th. Citizens Jmp dropped 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 reiterated a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. HC Wainwright reissued a “buy” rating on shares of Sutro Biopharma in a report on Friday, October 16th. Finally, Weiss Ratings raised Sutro Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, November 4th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $49.50.

Sutro Biopharma Stock Up 10.3%

Shares of NASDAQ:STRO opened at $10.61 on Friday. The company has a market cap of $175.91 million, a P/E ratio of -0.89 and a beta of 1.56. Sutro Biopharma has a 52 week low of $7.15 and a 52 week high of $43.85. The company has a 50-day moving average price of $14.02 and a 200 day moving average price of $22.66.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results 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 business had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. Analysts expect that Sutro Biopharma will post -8.12 EPS for the current year.

Institutional Trading of Sutro Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp acquired a new stake in shares of Sutro Biopharma during the first quarter valued at $312,000. Wellington Management Group LLP acquired a new position in Sutro Biopharma in the 2nd quarter valued at about $359,000. Bank of America Corp DE raised its stake in Sutro Biopharma by 348.1% in the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after purchasing an additional 14,661 shares during the last quarter. Stempoint Capital LP acquired a new stake in shares of Sutro Biopharma during the 1st quarter worth about $580,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sutro Biopharma during the second quarter worth about $1,373,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.