Sutro Biopharma, Inc. (NASDAQ:STRO) Receives Average Rating of “Buy” from Brokerages

Sutro Biopharma, Inc. (NASDAQ:STRO) has been given a consensus rating of “Buy” by the twelve brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.80.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Sutro Biopharma from a “buy” rating to a “hold” rating in a research report on Thursday, August 13th. Jefferies Financial Group assumed coverage on shares of Sutro Biopharma in a research report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Sutro Biopharma in a research report on Thursday, July 16th. They set an “overweight” rating and a $18.00 price target on the stock. BidaskClub raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. Finally, TheStreet upgraded shares of Sutro Biopharma from a “d” rating to a “c-” rating in a report on Friday, August 21st.

In related news, Director John Gordon Freund sold 500,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $10.00, for a total transaction of $5,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,402,925 shares of company stock valued at $14,186,676 in the last 90 days. 14.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nuveen Asset Management LLC increased its stake in shares of Sutro Biopharma by 28.6% in the second quarter. Nuveen Asset Management LLC now owns 50,735 shares of the company’s stock worth $393,000 after purchasing an additional 11,294 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sutro Biopharma by 113.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 48,231 shares of the company’s stock worth $375,000 after purchasing an additional 25,639 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Sutro Biopharma in the second quarter worth about $4,656,000. Bank of America Corp DE boosted its position in shares of Sutro Biopharma by 15.1% in the second quarter. Bank of America Corp DE now owns 24,810 shares of the company’s stock valued at $193,000 after acquiring an additional 3,247 shares during the period. Finally, BVF Inc. IL boosted its position in shares of Sutro Biopharma by 398.1% in the second quarter. BVF Inc. IL now owns 2,368,392 shares of the company’s stock valued at $18,379,000 after acquiring an additional 1,892,910 shares during the period. Hedge funds and other institutional investors own 67.96% of the company’s stock.

Shares of Sutro Biopharma stock traded down $0.08 during trading hours on Friday, reaching $11.82. The company’s stock had a trading volume of 138,603 shares, compared to its average volume of 179,906. The company has a debt-to-equity ratio of 0.12, a quick ratio of 7.29 and a current ratio of 7.29. The stock’s fifty day simple moving average is $11.06 and its two-hundred day simple moving average is $9.64. Sutro Biopharma has a one year low of $6.00 and a one year high of $13.91. The company has a market capitalization of $424.09 million, a P/E ratio of -10.75 and a beta of 0.60.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). Sutro Biopharma had a negative net margin of 43.34% and a negative return on equity of 53.40%. The firm had revenue of $9.47 million for the quarter, compared to the consensus estimate of $8.80 million. As a group, research analysts forecast that Sutro Biopharma will post -2.05 earnings per share for the current year.

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 and site-specific conjugation platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with 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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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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