Sutro Biopharma (NASDAQ:STRO) Upgraded by Mizuho to Strong-Buy Rating

Sutro Biopharma (NASDAQ:STRO) was upgraded by equities researchers at Mizuho to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research analysts have also commented on the company. Citizens Jmp decreased their target price on Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a research report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Wednesday, August 5th. Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Citigroup reaffirmed a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Finally, Truist Financial initiated coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They issued a “buy” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $47.30.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $19.10 on Monday. The company has a market capitalization of $316.68 million, a price-to-earnings ratio of -1.60 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 company’s fifty day moving average price is $24.04 and its two-hundred day moving average price is $26.66.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) 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 anticipate that Sutro Biopharma will post -8.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after buying an additional 1,206,330 shares during the period. Orbimed Advisors LLC acquired a new position in shares of Sutro Biopharma during the first quarter valued at $19,956,000. Perceptive Advisors LLC bought a new position in shares of Sutro Biopharma during the first quarter worth about $17,818,000. Jane Street Group LLC bought a new position in shares of Sutro Biopharma during the second quarter worth about $492,000. Finally, ADAR1 Capital Management LLC increased its holdings in shares of Sutro Biopharma by 681.8% in the 1st quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after acquiring an additional 457,364 shares during the period. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.