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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