Sutro Biopharma (NASDAQ:STRO) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Sutro Biopharma (NASDAQ:STRO) from a sell rating to a strong sell rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Other analysts also recently issued reports about the stock. Citizens Jmp reduced their price target on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating on the stock in a report on Thursday, August 13th. Citigroup reissued a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Mizuho upgraded Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, September 16th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Sutro Biopharma in a research report on Thursday, October 15th. Finally, Wells Fargo & Company started coverage on Sutro Biopharma in a report on Wednesday, September 30th. They issued an “overweight” rating and a $49.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sutro Biopharma currently has an average rating of “Buy” and an average price target of $49.50.

Sutro Biopharma Stock Performance

NASDAQ STRO opened at $9.62 on Friday. Sutro Biopharma has a 12 month low of $7.15 and a 12 month high of $43.85. The stock has a market cap of $159.50 million, a PE ratio of -0.80 and a beta of 1.56. The stock’s 50 day moving average is $14.22 and its 200 day moving average is $22.68.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The firm had revenue of $9.84 million for the quarter, compared to analysts’ expectations of $11.96 million. On average, analysts forecast that Sutro Biopharma will post -8.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in shares of Sutro Biopharma in the 2nd quarter worth $359,000. Sigma Planning Corp purchased a new stake in shares of Sutro Biopharma during the 1st quarter valued at about $312,000. Bank of America Corp DE raised its position in shares of Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after buying an additional 14,661 shares in the last quarter. Stempoint Capital LP purchased a new stake in shares of Sutro Biopharma during the 1st quarter valued at about $580,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Sutro Biopharma in the 2nd quarter valued at about $1,373,000. 96.99% of the stock is owned by hedge funds and other institutional investors.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biotechnology company focused on developing medicines for cancer and other serious diseases. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture targeted biologic therapies, including antibody-drug conjugates (ADCs) and cancer immunotherapies.

Sutro’s research programs have included luveltamab tazevibulin, also known as STRO-002, a folate receptor alpha-targeted ADC being investigated for ovarian and endometrial cancers.