Sutro Biopharma (NASDAQ:STRO) Rating Lowered to "Underperform" at Bank of America

Sutro Biopharma (NASDAQ:STRO - Get Free Report) was downgraded by equities researchers at Bank of America from a "buy" rating to an "underperform" rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $1.00 target price on the stock, down from their prior target price of $11.00. Bank of America's target price indicates a potential upside of 11.59% from the stock's previous close.

STRO has been the subject of a number of other research reports. Wells Fargo & Company decreased their target price on shares of Sutro Biopharma from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. JMP Securities reiterated a "market outperform" rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Wednesday, December 11th. Wedbush reissued an "outperform" rating and set a $8.00 target price on shares of Sutro Biopharma in a report on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $12.00 price target on shares of Sutro Biopharma in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Sutro Biopharma has a consensus rating of "Hold" and a consensus price target of $6.63.

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Sutro Biopharma Stock Performance

Shares of STRO traded down $0.04 during mid-day trading on Friday, reaching $0.90. 2,353,555 shares of the company's stock traded hands, compared to its average volume of 961,786. The business's 50-day moving average price is $1.73 and its 200-day moving average price is $2.70. The stock has a market capitalization of $73.89 million, a P/E ratio of -0.56 and a beta of 1.22. Sutro Biopharma has a 12 month low of $0.76 and a 12 month high of $6.13.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced 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). Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. The business had revenue of $14.00 million for the quarter, compared to the consensus estimate of $10.44 million. During the same period in the previous year, the firm earned ($1.78) EPS. Equities research analysts anticipate that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STRO. Suvretta Capital Management LLC boosted its stake in shares of Sutro Biopharma by 3.8% during the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company's stock worth $13,731,000 after acquiring an additional 275,000 shares in the last quarter. Vestal Point Capital LP purchased a new stake in shares of Sutro Biopharma during the fourth quarter valued at $4,729,000. Geode Capital Management LLC boosted its position in shares of Sutro Biopharma by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company's stock valued at $6,426,000 after purchasing an additional 132,015 shares during the period. Parkman Healthcare Partners LLC increased its stake in Sutro Biopharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company's stock worth $3,179,000 after purchasing an additional 11,793 shares in the last quarter. Finally, State Street Corp raised its holdings in Sutro Biopharma by 5.2% during the 3rd quarter. State Street Corp now owns 1,647,162 shares of the company's stock worth $5,699,000 after buying an additional 81,855 shares during the period. Institutional investors own 96.99% of the company's stock.

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.