Mizuho Upgrades Sutro Biopharma (NASDAQ:STRO) to Strong-Buy

Sutro Biopharma (NASDAQ:STRO) was upgraded by investment analysts at Mizuho to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Citizens Jmp cut their price target on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a report on Thursday, August 13th. Wall Street Zen downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. Barclays assumed coverage on shares of Sutro Biopharma in a research report on Thursday, May 28th. They issued an “overweight” rating and a $56.00 target price on the stock. Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $47.30.

Sutro Biopharma Trading Down 4.8%

Shares of STRO stock opened at $19.10 on Monday. Sutro Biopharma has a 12-month low of $7.15 and a 12-month high of $43.85. The business’s 50 day moving average is $24.04 and its two-hundred day moving average is $26.66. The company has a market capitalization of $316.68 million, a P/E ratio of -1.60 and a beta of 1.48.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.14). The firm had revenue of $9.84 million during the quarter, compared to analyst estimates of $11.96 million. On average, research analysts predict that Sutro Biopharma will post -8.41 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

Several large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in shares of Sutro Biopharma during the 2nd quarter worth $1,844,000. California State Teachers Retirement System purchased a new stake in shares of Sutro Biopharma in the second quarter valued at about $242,000. Seven Fleet Capital Management LP purchased a new stake in shares of Sutro Biopharma in the second quarter valued at about $5,283,000. Wellington Management Group LLP acquired a new stake in Sutro Biopharma during the second quarter worth about $359,000. Finally, Merck & Co. Inc. acquired a new stake in Sutro Biopharma during the second quarter worth about $9,042,053. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Sutro Biopharma Company Profile

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.