Sutro Biopharma (NASDAQ:STRO) Shares Down 7.1% – What’s Next?

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO) dropped 7.1% during mid-day trading on Wednesday . The stock traded as low as $31.51 and last traded at $30.8330. 33,344 shares changed hands during trading, a decline of 86% from the average daily volume of 240,835 shares. The stock had previously closed at $33.20.

Analyst Ratings Changes

STRO has been the subject of a number of recent analyst reports. Barclays started coverage on shares of Sutro Biopharma in a research report on Thursday, May 28th. They set an “overweight” rating and a $56.00 price target for the company. Mizuho set a $50.00 price objective on shares of Sutro Biopharma and gave the company an “outperform” rating in a research note on Thursday, April 30th. HC Wainwright increased their price objective on shares of Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Citizens Jmp raised their price objective on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a report on Thursday, April 23rd. Finally, Citigroup reissued an “outperform” rating on shares of Sutro Biopharma in a research report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sutro Biopharma currently has an average rating of “Moderate Buy” and a consensus price target of $52.44.

Sutro Biopharma Trading Up 0.6%

The company has a market cap of $504.23 million, a price-to-earnings ratio of -2.76 and a beta of 1.51. The firm has a 50-day moving average price of $31.65 and a 200 day moving average price of $23.09.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The company had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. Research analysts anticipate that Sutro Biopharma, Inc. will post -9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. State of Tennessee Department of Treasury bought a new position in Sutro Biopharma in the 4th quarter worth approximately $86,000. Sigma Planning Corp bought a new stake in Sutro Biopharma during the 1st quarter valued at $312,000. Bank of America Corp DE raised its stake in Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock valued at $470,000 after acquiring an additional 14,661 shares in the last quarter. Jane Street Group LLC acquired a new position in Sutro Biopharma during the 4th quarter worth $265,000. Finally, Stempoint Capital LP acquired a new position in Sutro Biopharma during the 1st quarter worth $580,000. 96.99% of the stock is currently owned by institutional investors.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.