Sutro Biopharma (NASDAQ:STRO) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Sutro Biopharma (NASDAQ:STRO) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

STRO has been the topic of a number of other reports. Mizuho upgraded Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday. Citizens Jmp dropped their price target 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. Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Sutro Biopharma in a research note on Thursday, August 13th. Truist Financial started coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Stifel Nicolaus set a $48.00 price objective on shares of Sutro Biopharma and gave the company a “buy” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $47.30.

Sutro Biopharma Trading Down 0.9%

Shares of Sutro Biopharma stock opened at $15.34 on Friday. The company has a 50-day moving average of $21.79 and a two-hundred day moving average of $26.45. Sutro Biopharma has a 12-month low of $7.15 and a 12-month high of $43.85. The stock has a market cap of $254.34 million, a PE ratio of -1.28 and a beta of 1.48.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The firm had revenue of $9.84 million during the quarter, compared to analyst estimates of $11.96 million. On average, sell-side analysts forecast that Sutro Biopharma will post -8.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

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