Sutro Biopharma (NASDAQ:STRO) Stock Rating Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Sutro Biopharma to “strong sell” from “sell,” while analyst opinion overall remains more positive: MarketBeat reports a consensus “buy” rating and an average price target of $49.50.
• Sutro shares opened at $9.62, well below their 50-day average of $14.22 and 200-day average of $22.68; the stock’s 12-month range is $7.15 to $43.85.
• The company reported a quarterly loss of $2.33 per share, missing the $2.19 loss consensus, and revenue of $9.84 million versus expectations of $11.96 million.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Sunday, Wall Street Zen reports.

A number of other equities research analysts have also issued reports on STRO. HC Wainwright reiterated a "buy" rating on shares of Sutro Biopharma in a research note on Friday, October 16th. Wells Fargo & Company assumed coverage on Sutro Biopharma in a research report on Wednesday, September 30th. They set an "overweight" rating and a $49.00 target price on the stock. Citigroup reiterated a "market outperform" rating on shares of Sutro Biopharma in a research note on Thursday, August 13th. Weiss Ratings upgraded Sutro Biopharma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. Finally, Citizens Jmp reduced their price target on Sutro Biopharma from $41.00 to $34.00 and set a "market outperform" rating for the company in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $49.50.

Sutro Biopharma Trading Up 4.6%

NASDAQ:STRO opened at $9.62 on Friday. The firm's fifty day simple moving average is $14.22 and its 200 day simple moving average is $22.68. Sutro Biopharma has a twelve month low of $7.15 and a twelve month high of $43.85. The firm has a market capitalization of $159.50 million, a price-to-earnings ratio of -0.80 and a beta of 1.56.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The business had revenue of $9.84 million during the quarter, compared to the consensus estimate of $11.96 million. On average, analysts predict that Sutro Biopharma will post -8.12 earnings per share for the current year.

Institutional Trading of Sutro Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in STRO. Wellington Management Group LLP bought a new position in Sutro Biopharma during the 2nd quarter valued at $359,000. Sigma Planning Corp bought a new stake in shares of Sutro Biopharma in the 1st quarter worth about $312,000. Bank of America Corp DE increased its position in shares of 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 purchasing an additional 14,661 shares during the last quarter. Stempoint Capital LP bought a new stake in shares of Sutro Biopharma in the 1st quarter worth about $580,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sutro Biopharma in the 2nd quarter worth about $1,373,000. Institutional investors own 96.99% of the company's stock.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biotechnology company focused on developing medicines for cancer and other serious diseases. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture targeted biologic therapies, including antibody-drug conjugates (ADCs) and cancer immunotherapies.

Sutro's research programs have included luveltamab tazevibulin, also known as STRO-002, a folate receptor alpha-targeted ADC being investigated for ovarian and endometrial cancers.

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