Sutro Biopharma (NASDAQ:STRO) Rating Lowered to Sell at Zacks Investment Research

Sutro Biopharma (NASDAQ:STRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Sutro Biopharma Inc. develops and manufactures pharmaceutical products. The Company provides antibody drug conjugate and multi-specific antibody-based therapeutics for cancer therapy. Its product pipeline consists of STRO-001 and STRO-002 which are in clinical stage. Sutro Biopharma Inc. is based in South San Francisco, California. “

STRO has been the subject of a number of other reports. Berenberg Bank started coverage on Sutro Biopharma in a research note on Wednesday, November 17th. They set a “buy” rating and a $30.00 price target for the company. Wedbush cut their price objective on Sutro Biopharma from $37.00 to $30.00 in a research report on Thursday, January 6th. Finally, Wells Fargo & Company reiterated a “buy” rating and set a $30.00 price objective on shares of Sutro Biopharma in a research report on Friday, October 1st. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Sutro Biopharma has a consensus rating of “Buy” and a consensus price target of $30.00.

Shares of NASDAQ STRO opened at $10.70 on Thursday. The stock has a fifty day moving average price of $15.65 and a two-hundred day moving average price of $17.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.07 and a current ratio of 7.07. The firm has a market cap of $495.09 million, a P/E ratio of -3.64 and a beta of 0.80. Sutro Biopharma has a 1 year low of $9.62 and a 1 year high of $28.30.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Wednesday, November 10th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.02). The firm had revenue of $8.52 million for the quarter, compared to the consensus estimate of $8.85 million. Sutro Biopharma had a negative net margin of 213.36% and a negative return on equity of 37.80%. On average, research analysts predict that Sutro Biopharma will post -1.95 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in shares of Sutro Biopharma by 59.4% during the second quarter. New York State Common Retirement Fund now owns 37,467 shares of the company’s stock valued at $697,000 after buying an additional 13,967 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Sutro Biopharma by 81.9% during the second quarter. Rhumbline Advisers now owns 53,211 shares of the company’s stock valued at $989,000 after buying an additional 23,960 shares in the last quarter. Swiss National Bank purchased a new position in shares of Sutro Biopharma during the second quarter valued at $1,316,000. Ameritas Investment Partners Inc. grew its holdings in shares of Sutro Biopharma by 28.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,400 shares of the company’s stock valued at $63,000 after buying an additional 756 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Sutro Biopharma by 26.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 11,156 shares of the company’s stock valued at $207,000 after buying an additional 2,366 shares in the last quarter. 86.40% of the stock is owned by institutional investors and hedge funds.

Sutro Biopharma Company Profile

Sutro Biopharma Inc engages in the drug discovery, development and manufacture of pharmaceutical products. It focuses on the next generation cancer and autoimmune therapeutics. The company was founded by James R. Swartz and Sutanto Widjaja on April 21, 2003 and is headquartered in South San Francisco, CA.

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