Sutro Biopharma (NASDAQ:STRO) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Sutro Biopharma (NASDAQ:STRO) from a hold rating to a buy rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other research analysts also recently commented on STRO. Cowen reissued a buy rating on shares of Sutro Biopharma in a report on Sunday, June 16th. Zacks Investment Research reissued a hold rating on shares of Sutro Biopharma in a report on Saturday, June 29th. Deutsche Bank began coverage on shares of Sutro Biopharma in a research report on Thursday, July 18th. They issued a buy rating and a $22.00 price objective for the company. Finally, HC Wainwright set a $18.00 price objective on shares of Sutro Biopharma and gave the stock a buy rating in a research report on Monday, June 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $22.60.

Shares of STRO traded down $0.30 on Thursday, hitting $11.00. The company’s stock had a trading volume of 7,988 shares, compared to its average volume of 24,058. The firm has a market capitalization of $259.06 million and a P/E ratio of -1.79. Sutro Biopharma has a fifty-two week low of $8.50 and a fifty-two week high of $15.90. The business has a 50 day moving average price of $11.51.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Wednesday, May 15th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.02). The firm had revenue of $8.63 million during the quarter, compared to analyst estimates of $8.92 million. Research analysts anticipate that Sutro Biopharma will post -2.52 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. American International Group Inc. bought a new position in Sutro Biopharma in the 4th quarter worth approximately $38,000. Jennison Associates LLC raised its position in Sutro Biopharma by 3.6% in the 1st quarter. Jennison Associates LLC now owns 137,788 shares of the company’s stock worth $1,569,000 after purchasing an additional 4,741 shares during the last quarter. SG Americas Securities LLC raised its position in Sutro Biopharma by 40.6% in the 1st quarter. SG Americas Securities LLC now owns 26,380 shares of the company’s stock worth $300,000 after purchasing an additional 7,619 shares during the last quarter. Deutsche Bank AG bought a new position in Sutro Biopharma in the 4th quarter worth approximately $87,000. Finally, Spark Investment Management LLC bought a new position in Sutro Biopharma in the 1st quarter worth approximately $168,000. Hedge funds and other institutional investors own 49.01% 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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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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