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 Saturday,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on STRO. Truist Financial started coverage on Sutro Biopharma in a research report on Thursday, June 11th. They set a “buy” rating and a $50.00 price target on the stock. Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Sutro Biopharma in a research note on Thursday, August 13th. Mizuho raised Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, September 16th. Finally, Citizens Jmp cut their target price on Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 13th. Two equities research 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 stock has an average rating of “Buy” and a consensus price target of $47.30.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $16.35 on Friday. The firm’s 50-day moving average is $21.56 and its 200-day moving average is $26.46. Sutro Biopharma has a 1 year low of $7.15 and a 1 year high of $43.85. The company has a market cap of $271.08 million, a P/E ratio of -1.37 and a beta of 1.48.

Sutro Biopharma (NASDAQ:STRO) last announced 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 company had revenue of $9.84 million for the quarter, compared to analyst estimates of $11.96 million. As a group, sell-side analysts predict that Sutro Biopharma will post -8.41 earnings per share for the current year.

Hedge Funds Weigh In On Sutro Biopharma

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

About Sutro Biopharma

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.