Sutro Biopharma (NASDAQ:STRO) Cut to “Underperform” at Bank of America

Bank of America cut shares of Sutro Biopharma (NASDAQ:STRO) from a buy rating to an underperform rating in a report released on Friday morning, Marketbeat.com reports. They currently have $1.00 target price on the stock, down from their prior target price of $11.00.

A number of other equities research analysts have also commented on the stock. Wedbush reiterated an “outperform” rating and set a $8.00 price target on shares of Sutro Biopharma in a report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.00.

Sutro Biopharma Trading Down 35.2 %

STRO opened at $0.81 on Friday. Sutro Biopharma has a 12 month low of $0.81 and a 12 month high of $6.13. The business’s 50-day moving average price is $1.75 and its 200-day moving average price is $2.72. The company has a market cap of $66.80 million, a P/E ratio of -0.50 and a beta of 1.22.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in Sutro Biopharma in the fourth quarter worth $26,000. Gladius Capital Management LP purchased a new stake in shares of Sutro Biopharma in the 3rd quarter worth about $28,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Sutro Biopharma in the 4th quarter worth about $32,000. Vontobel Holding Ltd. increased its stake 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 worth $46,000 after acquiring an additional 10,000 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Sutro Biopharma by 74.3% during the 4th quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock valued at $50,000 after acquiring an additional 11,494 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

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.