Sutro Biopharma (NASDAQ:STRO) Stock Rating Lowered by Wall Street Zen

Sutro Biopharma (NASDAQ:STRO) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently weighed in on the company. Barclays initiated coverage on Sutro Biopharma in a report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 price target for the company. Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Wednesday, August 5th. Mizuho upgraded Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, September 16th. Finally, Truist Financial assumed coverage on Sutro Biopharma in a research report on Thursday, June 11th. They set a “buy” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $47.30.

Sutro Biopharma Price Performance

Sutro Biopharma stock opened at $15.34 on Friday. The stock has a market capitalization of $254.34 million, a P/E ratio of -1.28 and a beta of 1.48. Sutro Biopharma has a 12-month low of $7.15 and a 12-month high of $43.85. The firm’s 50-day moving average is $21.79 and its two-hundred day moving average is $26.49.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The firm had revenue of $9.84 million for the quarter, compared to analyst estimates of $11.96 million. As a group, analysts forecast that Sutro Biopharma will post -8.41 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Large investors have recently bought and sold shares of the stock. Merck & Co. Inc. purchased a new position in shares of Sutro Biopharma in the 2nd quarter worth $9,042,053. Perceptive Advisors LLC purchased a new stake in Sutro Biopharma during the first quarter valued at about $17,818,000. Affinity Asset Advisors LLC grew its position in Sutro Biopharma by 42.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after acquiring an additional 321,137 shares during the period. Seven Fleet Capital Management LP purchased a new stake in Sutro Biopharma during the second quarter valued at about $5,283,000. Finally, Orbimed Advisors LLC acquired a new stake in Sutro Biopharma during the first quarter worth about $19,956,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

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.