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

Key Points

• Mizuho upgraded Sutro Biopharma to “strong buy,” joining a largely positive analyst group. The stock has a consensus “buy” rating and an average price target of $47.30.
• Sutro’s shares opened at $19.10, well below the analyst targets, but the company recently reported a quarterly loss of $2.33 per share and revenue of $9.84 million, missing consensus estimates on both measures.
• Institutional investors own approximately 96.99% of Sutro’s stock, with several funds initiating or increasing positions recently.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) was upgraded by Mizuho to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other equities research analysts also recently issued reports on the company. HC Wainwright boosted their price target on Sutro Biopharma from $28.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Truist Financial started coverage on Sutro Biopharma in a research note on Thursday, June 11th. They issued a "buy" rating and a $50.00 price objective on the stock. Leerink Partners set a $43.00 target price on Sutro Biopharma and gave the stock an "outperform" rating in a report on Friday, May 15th. Stifel Nicolaus set a $48.00 target price on shares of Sutro Biopharma and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Citigroup restated a "market outperform" rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Two investment 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. According to data from MarketBeat.com, Sutro Biopharma has a consensus rating of "Buy" and an average target price of $47.30.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $19.10 on Monday. Sutro Biopharma has a 1 year low of $7.15 and a 1 year high of $43.85. The firm has a 50 day moving average price of $24.04 and a 200 day moving average price of $26.66. The company has a market cap of $316.68 million, a price-to-earnings ratio of -1.60 and a beta of 1.48.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million. Sell-side analysts predict that Sutro Biopharma will post -8.41 EPS for the current year.

Institutional Trading of Sutro Biopharma

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System acquired a new position in shares of Sutro Biopharma during the second quarter worth $242,000. State of Tennessee Department of Treasury acquired a new stake in Sutro Biopharma during the 4th quarter valued at $86,000. Wellington Management Group LLP acquired a new stake in Sutro Biopharma during the 2nd quarter valued at $359,000. Sigma Planning Corp purchased a new stake in Sutro Biopharma during the 1st quarter worth $312,000. Finally, Bank of America Corp DE lifted its holdings in Sutro Biopharma by 348.1% in the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company's stock worth $470,000 after buying an additional 14,661 shares in the last quarter. 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 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.

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