Sutro Biopharma (NASDAQ:STRO) Rating Lowered to Hold at ValuEngine

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

A number of other brokerages also recently commented on STRO. 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. SunTrust Banks started coverage on Sutro Biopharma in a research report on Monday. They issued a “buy” rating and a $18.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Sutro Biopharma in a research report on Monday, October 21st. BTIG Research started coverage on Sutro Biopharma in a research report on Monday, October 7th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating on shares of Sutro Biopharma in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Sutro Biopharma currently has a consensus rating of “Buy” and a consensus target price of $18.29.

NASDAQ:STRO traded up $0.21 during mid-day trading on Tuesday, hitting $12.01. 4,583 shares of the company’s stock traded hands, compared to its average volume of 90,428. The firm has a 50 day moving average of $11.11 and a two-hundred day moving average of $10.39. Sutro Biopharma has a 12 month low of $7.69 and a 12 month high of $12.75. The firm has a market capitalization of $271.77 million, a price-to-earnings ratio of -1.96 and a beta of 1.11.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Friday, November 8th. The company reported ($0.56) earnings per share for the quarter, beating 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, equities analysts forecast that Sutro Biopharma will post -2.49 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in STRO. Millennium Management LLC lifted its position in shares of Sutro Biopharma by 2,503.7% during the 3rd quarter. Millennium Management LLC now owns 26,037 shares of the company’s stock worth $236,000 after buying an additional 25,037 shares during the period. Barclays PLC lifted its position in shares of Sutro Biopharma by 30.9% during the 3rd quarter. Barclays PLC now owns 12,732 shares of the company’s stock worth $116,000 after buying an additional 3,006 shares during the period. Squarepoint Ops LLC lifted its position in shares of Sutro Biopharma by 67.7% during the 3rd quarter. Squarepoint Ops LLC now owns 20,951 shares of the company’s stock worth $190,000 after buying an additional 8,456 shares during the period. Vanguard Group Inc. lifted its position in shares of Sutro Biopharma by 10.5% during the 2nd quarter. Vanguard Group Inc. now owns 195,254 shares of the company’s stock worth $2,222,000 after buying an additional 18,482 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Sutro Biopharma by 72.4% during the 2nd quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock worth $6,193,000 after buying an additional 228,480 shares during the period. Institutional investors 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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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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