Sutro Biopharma (NASDAQ:STRO) Cut to Neutral at Wedbush

Wedbush lowered shares of Sutro Biopharma (NASDAQ:STRO) from an outperform rating to a neutral rating in a report published on Friday, Marketbeat reports. They currently have $2.00 target price on the stock, down from their prior target price of $8.00.

STRO has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a research note on Monday, November 18th. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their target price on shares of 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, Bank of America lowered Sutro Biopharma from a “buy” rating to an “underperform” rating and lowered their price target for the company from $11.00 to $1.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.00.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO opened at $0.81 on Friday. Sutro Biopharma has a 1 year low of $0.81 and a 1 year high of $6.13. The firm has a 50-day simple moving average of $1.75 and a two-hundred day simple moving average of $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 issued its quarterly earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($2.10). The business had revenue of $14.00 million for the quarter, compared to the consensus estimate of $10.44 million. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. During the same period in the prior year, the business posted ($1.78) earnings per share. As a group, equities research analysts expect that Sutro Biopharma will post -2.92 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in Sutro Biopharma in the fourth quarter worth approximately $26,000. Gladius Capital Management LP purchased a new position in shares of Sutro Biopharma in the 3rd quarter valued at $28,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Sutro Biopharma in the 4th quarter worth $32,000. Vontobel Holding Ltd. raised its holdings in Sutro Biopharma by 66.7% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock worth $46,000 after purchasing an additional 10,000 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Sutro Biopharma by 74.3% during the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock valued at $50,000 after buying an additional 11,494 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Company Profile

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.