Sutro Biopharma (NASDAQ:STRO) Cut to Market Perform at Citizens Jmp

Citizens Jmp downgraded shares of Sutro Biopharma (NASDAQ:STRO) from an outperform rating to a market perform rating in a report published on Friday, Marketbeat.com reports.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a report on Monday, November 18th. Wells Fargo & Company decreased their target price on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Wedbush cut Sutro Biopharma from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $2.00 in a research note on Friday. Bank of America lowered Sutro Biopharma from a “buy” rating to an “underperform” rating and reduced their price target for the company from $11.00 to $1.00 in a research report on Friday. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.00.

Sutro Biopharma Trading Down 35.2 %

STRO stock opened at $0.81 on Friday. The business’s fifty day moving average price is $1.75 and its 200 day moving average price is $2.72. Sutro Biopharma has a 12-month low of $0.81 and a 12-month high of $6.13. The company has a market capitalization of $66.80 million, a PE ratio of -0.50 and a beta of 1.22.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($2.10). The firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $10.44 million. Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. During the same period in the prior year, the firm earned ($1.78) earnings per share. Research analysts predict that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in Sutro Biopharma by 16.6% during the fourth quarter. SG Americas Securities LLC now owns 40,432 shares of the company’s stock worth $74,000 after purchasing an additional 5,770 shares during the last quarter. Rhumbline Advisers raised its holdings in Sutro Biopharma by 6.1% during the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock worth $233,000 after purchasing an additional 7,320 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Sutro Biopharma during the third quarter worth approximately $28,000. Vontobel Holding Ltd. boosted its holdings in shares of Sutro Biopharma by 66.7% in the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Sutro Biopharma by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 52,738 shares of the company’s stock valued at $97,000 after buying an additional 10,466 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.