Sutro Biopharma (NASDAQ:STRO) Stock Rating Lowered by Zacks Investment Research

Sutro Biopharma (NASDAQ:STRO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 subject of several other research reports. Wedbush reissued an “outperform” rating on shares of Sutro Biopharma in a research note on Wednesday, October 30th. SunTrust Banks started coverage on Sutro Biopharma in a research report on Monday. They set a “buy” rating and a $18.00 target price on the stock. ValuEngine lowered Sutro Biopharma from a “buy” rating to a “hold” rating in a research report on Tuesday. BTIG Research started 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. Finally, HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Sutro Biopharma in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $18.29.

Shares of STRO stock opened at $11.80 on Tuesday. The stock has a market cap of $271.77 million, a price-to-earnings ratio of -1.92 and a beta of 1.11. The stock has a 50-day moving average of $11.11 and a 200-day moving average of $10.39. Sutro Biopharma has a 1-year low of $7.69 and a 1-year high of $12.75.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly 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 company had revenue of $12.28 million during the quarter, compared to analyst estimates of $8.88 million. As a group, equities analysts forecast that Sutro Biopharma will post -2.49 earnings per share for the current year.

A number of large investors have recently made changes to their positions in STRO. Wells Fargo & Company MN boosted 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 worth $130,000 after acquiring an additional 8,113 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 worth $258,000 after acquiring an additional 9,482 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Sutro Biopharma by 104.8% in the second quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock worth $347,000 after acquiring an additional 15,591 shares in the last quarter. Northern Trust Corp boosted its holdings in Sutro Biopharma by 6.6% in the second quarter. Northern Trust Corp now owns 79,777 shares of the company’s stock worth $907,000 after acquiring an additional 4,910 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Sutro Biopharma by 72.4% in the second quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock worth $6,193,000 after acquiring an additional 228,480 shares in the last quarter. Institutional investors and hedge funds own 47.96% of the company’s stock.

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.

Read More: Guidelines for Successful Channel Trading

Get a free copy of the Zacks research report on Sutro Biopharma (STRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

Receive News & Ratings for Sutro Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sutro Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.