Sutro Biopharma (NASDAQ:STRO) Rating Increased to Strong-Buy at Mizuho

Sutro Biopharma (NASDAQ:STRO) was upgraded by equities researchers at Mizuho to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other equities analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Wednesday, August 5th. Truist Financial started coverage on shares of Sutro Biopharma in a research note on Thursday, June 11th. They issued a “buy” rating and a $50.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Sutro Biopharma in a report on Thursday, August 13th. Citizens Jmp reduced 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 research report on Thursday, August 13th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sutro Biopharma has an average rating of “Buy” and a consensus target price of $47.30.

Sutro Biopharma Stock Down 0.8%

STRO stock opened at $15.48 on Wednesday. The firm has a market capitalization of $256.66 million, a PE ratio of -1.29 and a beta of 1.48. Sutro Biopharma has a twelve month low of $7.15 and a twelve month high of $43.85. The stock has a 50-day simple moving average of $22.08 and a two-hundred day simple moving average of $26.52.

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

Institutional Inflows and Outflows

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

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company uses its proprietary XpressCF cell-free protein synthesis platform to design and manufacture antibody-drug conjugates (ADCs) and immunostimulatory antibody conjugates intended to selectively target tumor cells while limiting damage to healthy tissue.

Sutro’s pipeline has included luveltamab tazevibulin, also known as luvelta or STRO-002, a folate receptor alpha-directed ADC being investigated for the treatment of ovarian and endometrial cancers.