Sutro Biopharma (NASDAQ:STRO) Raised to Strong-Buy at Mizuho

Key Points

• Mizuho upgraded Sutro Biopharma to “strong buy,” adding to generally positive analyst sentiment. The stock has an average “buy” rating and a consensus price target of $47.30.
• Sutro shares opened at $15.48, well below their 52-week high of $43.85. The company has a market capitalization of approximately $256.7 million.
• Sutro reported a quarterly loss of $2.33 per share and revenue of $9.84 million, missing analyst estimates for both earnings and revenue. Institutional investors own nearly 97% of the company’s stock.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) was upgraded by investment analysts at Mizuho to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

STRO has been the topic of a number of other reports. Stifel Nicolaus set a $48.00 target price on shares of Sutro Biopharma and gave the company a "buy" rating in a research note on Friday, August 7th. Citigroup restated a "market outperform" rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sutro Biopharma in a report on Wednesday, August 5th. Citizens Jmp lowered their price target on shares of Sutro Biopharma from $41.00 to $34.00 and set a "market outperform" rating on the stock in a report on Thursday, August 13th. Finally, Truist Financial initiated coverage on Sutro Biopharma in a report on Thursday, June 11th. They set a "buy" rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $47.30.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $15.48 on Wednesday. The stock has a market capitalization of $256.66 million, a price-to-earnings ratio of -1.29 and a beta of 1.48. Sutro Biopharma has a one year low of $7.15 and a one year high of $43.85. The business's fifty day moving average is $22.08 and its 200-day moving average is $26.52.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The company had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million. Research analysts expect that Sutro Biopharma will post -8.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Merck & Co. Inc. purchased a new stake in shares of Sutro Biopharma during the 2nd quarter valued at approximately $9,042,053. Perceptive Advisors LLC purchased a new position in Sutro Biopharma in the 1st quarter valued at approximately $17,818,000. Affinity Asset Advisors LLC grew its stake in Sutro Biopharma by 42.9% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company's stock valued at $26,642,000 after buying an additional 321,137 shares in the last quarter. Orbimed Advisors LLC bought a new stake in Sutro Biopharma during the 1st quarter valued at $19,956,000. Finally, Seven Fleet Capital Management LP bought a new stake in Sutro Biopharma during the 2nd quarter valued at $5,283,000. Institutional investors own 96.99% of the company's stock.

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.

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