Sutro Biopharma (NASDAQ:STRO) Downgraded to Neutral Rating by Wedbush

Wedbush lowered shares of Sutro Biopharma (NASDAQ:STRO) from an outperform rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. Wedbush currently has $2.00 price objective on the stock, down from their prior price objective of $8.00.

Several other research analysts have also issued reports on the company. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a research report on Monday, November 18th. 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. JMP Securities reiterated a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday, December 11th. Finally, Bank of America cut shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and cut their price target for the stock from $11.00 to $1.00 in a report on Friday. One 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. Based on data from MarketBeat, Sutro Biopharma currently has a consensus rating of “Hold” and an average target price of $9.00.

Sutro Biopharma Stock Performance

NASDAQ STRO opened at $0.81 on Friday. The company has a market cap of $66.80 million, a P/E ratio of -0.50 and a beta of 1.22. The business’s 50 day moving average price is $1.78 and its 200-day moving average price is $2.78. Sutro Biopharma has a fifty-two week low of $0.81 and a fifty-two week high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share for the quarter. Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. During the same quarter in the previous year, the company posted ($1.78) earnings per share. As a group, equities analysts predict that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Trading of Sutro Biopharma

A number of hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $28,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Sutro Biopharma during the fourth quarter valued at approximately $26,000. China Universal Asset Management Co. Ltd. purchased a new position in Sutro Biopharma during the fourth quarter valued at approximately $32,000. Virtu Financial LLC purchased a new position in Sutro Biopharma during the third quarter valued at approximately $77,000. Finally, Vontobel Holding Ltd. raised its stake 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 buying an additional 10,000 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other 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.