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Sutro Biopharma Inc (NASDAQ:STRO) Receives Average Recommendation of "Buy" from Analysts

Last updated on Tuesday, September 15, 2020 | 2020 MarketBeat

Sutro Biopharma Inc (NASDAQ:STRO) has been assigned a consensus rating of "Buy" from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.83.

STRO has been the topic of several recent analyst reports. TheStreet upgraded shares of Sutro Biopharma from a "d" rating to a "c-" rating in a report on Friday, August 21st. Jefferies Financial Group initiated coverage on shares of Sutro Biopharma in a report on Wednesday, September 2nd. They issued a "buy" rating and a $21.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of Sutro Biopharma in a report on Thursday, July 16th. They issued an "overweight" rating and a $18.00 target price on the stock. Zacks Investment Research downgraded shares of Sutro Biopharma from a "buy" rating to a "hold" rating in a report on Thursday, August 13th. Finally, BidaskClub upgraded shares of Sutro Biopharma from a "hold" rating to a "buy" rating in a report on Saturday, September 5th.

In other Sutro Biopharma news, Director John Gordon Freund sold 500,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $8.72, for a total value of $4,360,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 501,950 shares of company stock worth $4,376,673 over the last 90 days. Company insiders own 14.50% of the company's stock.

Several institutional investors have recently modified their holdings of the company. BVF Inc. IL boosted its position in shares of Sutro Biopharma by 398.1% during the 2nd quarter. BVF Inc. IL now owns 2,368,392 shares of the company's stock valued at $18,379,000 after acquiring an additional 1,892,910 shares in the last quarter. Eventide Asset Management LLC boosted its position in shares of Sutro Biopharma by 3.3% during the 1st quarter. Eventide Asset Management LLC now owns 1,285,975 shares of the company's stock valued at $13,117,000 after acquiring an additional 41,080 shares in the last quarter. BlackRock Inc. boosted its position in shares of Sutro Biopharma by 2.1% during the 1st quarter. BlackRock Inc. now owns 660,751 shares of the company's stock valued at $6,738,000 after acquiring an additional 13,644 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Sutro Biopharma during the 2nd quarter valued at about $4,656,000. Finally, Logos Global Management LP acquired a new stake in shares of Sutro Biopharma during the 2nd quarter valued at about $2,809,000. Institutional investors and hedge funds own 67.96% of the company's stock.

Shares of STRO opened at $10.90 on Tuesday. The company has a market capitalization of $391.08 million, a PE ratio of -9.91 and a beta of 0.60. Sutro Biopharma has a one year low of $6.00 and a one year high of $13.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 7.29 and a quick ratio of 7.29. The company's fifty day moving average price is $9.46 and its 200 day moving average price is $9.34.

About Sutro Biopharma

Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.

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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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