ValuEngine Lowers Sutro Biopharma (NASDAQ:STRO) to Hold

Sutro Biopharma (NASDAQ:STRO) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

Several other brokerages also recently weighed in on STRO. HC Wainwright restated a “buy” rating and set a $18.00 price objective 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 assumed coverage on Sutro Biopharma in a research report on Monday, October 7th. They set a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research upgraded Sutro Biopharma from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Thursday, January 9th. Finally, SunTrust Banks assumed coverage on Sutro Biopharma in a research report on Monday. They set a “buy” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.29.

Shares of STRO stock opened at $12.01 on Tuesday. Sutro Biopharma has a twelve month low of $7.69 and a twelve month high of $12.75. The company has a market cap of $277.08 million, a P/E ratio of -1.96 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 announced its quarterly earnings data on Friday, November 8th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.09. The business had revenue of $12.28 million for the quarter, compared to the consensus estimate of $8.88 million. On average, analysts anticipate that Sutro Biopharma will post -2.49 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of STRO. Point72 Asset Management L.P. acquired a new position in Sutro Biopharma in the 2nd quarter worth about $3,669,000. BlackRock Inc. increased its holdings in Sutro Biopharma by 72.4% in the 2nd quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock worth $6,193,000 after purchasing an additional 228,480 shares in the last quarter. Millennium Management LLC increased its holdings in Sutro Biopharma by 2,503.7% in the 3rd quarter. Millennium Management LLC now owns 26,037 shares of the company’s stock worth $236,000 after purchasing an additional 25,037 shares in the last quarter. Vanguard Group Inc. increased its holdings in Sutro Biopharma by 10.5% in the 2nd quarter. Vanguard Group Inc. now owns 195,254 shares of the company’s stock worth $2,222,000 after purchasing an additional 18,482 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Sutro Biopharma by 104.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock worth $347,000 after purchasing an additional 15,591 shares in the last quarter. 47.96% of the stock is owned by institutional investors and hedge funds.

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)

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