Sutro Biopharma (NASDAQ:STRO) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sutro Biopharma (NASDAQ:STRO) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. The firm currently has $9.50 price objective on the stock.

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 research analysts have also recently commented on the company. HC Wainwright cut their price target on Sutro Biopharma from $18.00 to $17.00 and set a buy rating for the company in a research note on Wednesday, May 13th. Wells Fargo & Co began coverage on Sutro Biopharma in a research note on Thursday, July 16th. They set an overweight rating and a $18.00 price target for the company. Piper Sandler cut their price target on Sutro Biopharma from $23.00 to $20.00 in a research note on Monday, May 18th. Finally, B. Riley cut Sutro Biopharma to a hold rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Sutro Biopharma currently has a consensus rating of Buy and a consensus price target of $16.79.

Shares of Sutro Biopharma stock traded down $0.26 during trading hours on Wednesday, hitting $8.49. 6,573 shares of the company were exchanged, compared to its average volume of 117,872. Sutro Biopharma has a 1 year low of $6.00 and a 1 year high of $12.75. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $8.24 and a 200-day moving average of $9.50. The stock has a market capitalization of $203.26 million, a price-to-earnings ratio of -7.72 and a beta of 0.39.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Sutro Biopharma by 2.1% in the first quarter. BlackRock Inc. now owns 660,751 shares of the company’s stock valued at $6,738,000 after buying an additional 13,644 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Sutro Biopharma by 1,520.4% in the first quarter. Victory Capital Management Inc. now owns 59,322 shares of the company’s stock valued at $605,000 after buying an additional 55,661 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Sutro Biopharma by 41.5% in the first quarter. Squarepoint Ops LLC now owns 39,365 shares of the company’s stock valued at $402,000 after buying an additional 11,547 shares in the last quarter. State Street Corp increased its position in shares of Sutro Biopharma by 5.4% in the first quarter. State Street Corp now owns 178,605 shares of the company’s stock valued at $1,822,000 after buying an additional 9,139 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Sutro Biopharma by 24.2% in the first quarter. Geode Capital Management LLC now owns 119,453 shares of the company’s stock valued at $1,218,000 after buying an additional 23,237 shares in the last quarter. Institutional investors and hedge funds own 51.10% 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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