Wall Street Zen Downgrades Sutro Biopharma (NASDAQ:STRO) to Sell

Sutro Biopharma (NASDAQ:STRO) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other research analysts have also commented on STRO. HC Wainwright upped their price target on Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citigroup restated an “outperform” rating on shares of Sutro Biopharma in a research note on Friday, April 17th. Truist Financial assumed coverage on shares of Sutro Biopharma in a research report on Thursday. They set a “buy” rating and a $50.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company upgraded Sutro Biopharma from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $27.00 in a report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.20.

Sutro Biopharma Stock Performance

Shares of NASDAQ STRO opened at $28.80 on Friday. The stock has a market cap of $477.22 million, a price-to-earnings ratio of -2.61 and a beta of 1.54. The business has a 50 day simple moving average of $31.00 and a 200 day simple moving average of $20.88. Sutro Biopharma has a 52 week low of $6.74 and a 52 week high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. On average, analysts predict that Sutro Biopharma will post -9.29 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Velan Capital Investment Management LP raised its position in Sutro Biopharma by 2.0% in the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock valued at $2,709,000 after buying an additional 60,000 shares during the last quarter. UBS Group AG increased its position in shares of Sutro Biopharma by 14.0% during the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock worth $1,602,000 after purchasing an additional 226,955 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Sutro Biopharma by 1,052.8% during the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after purchasing an additional 1,206,330 shares during the last quarter. Affinity Asset Advisors LLC increased its position in shares of Sutro Biopharma by 42.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after purchasing an additional 321,137 shares during the last quarter. Finally, Orbimed Advisors LLC acquired a new position in shares of Sutro Biopharma during the 1st quarter worth approximately $19,956,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.