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

Zacks Investment Research cut shares of Sutro Biopharma (NASDAQ:STRO) from a buy rating to a hold rating in a research report released 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. “

Several other equities analysts have also recently issued reports on the company. BTIG Research began coverage on Sutro Biopharma in a research report on Monday, October 7th. They set a buy rating and a $19.00 target price on the stock. ValuEngine lowered Sutro Biopharma from a buy rating to a hold rating in a research note on Tuesday. HC Wainwright reaffirmed a buy rating and issued a $18.00 target price on shares of Sutro Biopharma in a research note on Monday, October 21st. Wedbush reaffirmed an outperform rating on shares of Sutro Biopharma in a research note on Wednesday, October 30th. Finally, SunTrust Banks started coverage on Sutro Biopharma in a research note on Monday. They issued a buy rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $18.29.

Sutro Biopharma stock opened at $11.88 on Tuesday. The stock has a 50-day moving average of $11.09 and a two-hundred day moving average of $10.39. Sutro Biopharma has a one year low of $7.69 and a one year high of $12.75. The stock has a market cap of $277.08 million, a PE ratio of -1.94 and a beta of 1.11.

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

Several institutional investors have recently modified their holdings of STRO. BlackRock Inc. raised its holdings in shares of Sutro Biopharma by 72.4% during the second quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock valued at $6,193,000 after buying an additional 228,480 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Sutro Biopharma during the 2nd quarter worth about $3,669,000. Vanguard Group Inc. lifted its stake 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 last quarter. State Street Corp lifted its stake in shares of Sutro Biopharma by 4.8% during the 3rd quarter. State Street Corp now owns 155,838 shares of the company’s stock worth $1,417,000 after buying an additional 7,179 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Sutro Biopharma by 6.6% during the 2nd quarter. Northern Trust Corp now owns 79,777 shares of the company’s stock worth $907,000 after buying an additional 4,910 shares during the last quarter. 47.96% of the stock is currently owned by institutional investors.

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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