Sutro Biopharma (NASDAQ:STRO) Lowered to Hold at Zacks Investment Research

Sutro Biopharma (NASDAQ:STRO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Sutro Biopharma Inc. develops and manufactures pharmaceutical products. The Company provides antibody drug conjugate and multi-specific antibody-based therapeutics for cancer therapy. Its product pipeline consists of STRO-001 and STRO-002 which are in clinical stage. Sutro Biopharma Inc. is based in South San Francisco, California. “

STRO has been the topic of a number of other research reports. SunTrust Banks initiated coverage on shares of Sutro Biopharma in a research report on Monday. They issued a “buy” rating and a $18.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Sutro Biopharma in a research report on Monday, October 21st. Wedbush restated an “outperform” rating on shares of Sutro Biopharma in a research report on Wednesday, October 30th. BTIG Research initiated coverage on shares of Sutro Biopharma in a research report on Monday, October 7th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, ValuEngine lowered shares of Sutro Biopharma from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $18.29.

Sutro Biopharma stock traded down $0.16 during mid-day trading on Tuesday, reaching $11.85. The company had a trading volume of 582 shares, compared to its average volume of 82,251. Sutro Biopharma has a fifty-two week low of $7.69 and a fifty-two week high of $12.75. The company has a market cap of $277.08 million, a P/E ratio of -1.93 and a beta of 1.11. The business has a fifty day simple moving average of $11.06 and a 200 day simple moving average of $10.39.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Friday, November 8th. The company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.09. The company had revenue of $12.28 million during the quarter, compared to analyst estimates of $8.88 million. Sell-side analysts predict that Sutro Biopharma will post -2.49 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its holdings in Sutro Biopharma by 240.7% in the second quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock valued at $130,000 after purchasing an additional 8,113 shares during the period. Barclays PLC increased its holdings in Sutro Biopharma by 30.9% in the third quarter. Barclays PLC now owns 12,732 shares of the company’s stock valued at $116,000 after purchasing an additional 3,006 shares during the period. Rhumbline Advisers increased its holdings in Sutro Biopharma by 9.3% in the third quarter. Rhumbline Advisers now owns 13,578 shares of the company’s stock valued at $123,000 after purchasing an additional 1,156 shares during the period. Squarepoint Ops LLC increased its holdings in Sutro Biopharma by 67.7% in the third quarter. Squarepoint Ops LLC now owns 20,951 shares of the company’s stock valued at $190,000 after purchasing an additional 8,456 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Sutro Biopharma by 72.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 22,592 shares of the company’s stock valued at $258,000 after purchasing an additional 9,482 shares during the period. Institutional investors and hedge funds own 47.96% of the company’s stock.

Sutro Biopharma Company Profile

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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