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

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

Several other brokerages have also issued reports on STRO. HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of Sutro Biopharma in a report on Monday, November 18th. Wells Fargo & Company reduced their price target on Sutro Biopharma from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Bank of America downgraded Sutro Biopharma from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $11.00 to $1.00 in a report on Friday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.63.

Sutro Biopharma Stock Down 3.9 %

Shares of STRO traded down $0.04 during trading hours on Friday, reaching $0.90. The company's stock had a trading volume of 2,353,555 shares, compared to its average volume of 961,786. The company has a 50 day moving average of $1.73 and a two-hundred day moving average of $2.70. The firm has a market cap of $73.89 million, a price-to-earnings ratio of -0.56 and a beta of 1.22. Sutro Biopharma has a 1-year low of $0.76 and a 1-year high of $6.13.

Remove Ads

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last released its quarterly earnings data 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 company had revenue of $14.00 million during the quarter, compared to analyst estimates of $10.44 million. During the same quarter in the prior year, the company posted ($1.78) EPS. As a group, analysts forecast that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

A number of large investors have recently added to or reduced their stakes in STRO. Velan Capital Investment Management LP acquired a new stake in shares of Sutro Biopharma in the fourth quarter worth $55,000. Vestal Point Capital LP acquired a new position in Sutro Biopharma in the 4th quarter valued at $4,729,000. Suvretta Capital Management LLC raised its holdings in Sutro Biopharma by 3.8% in 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 during the period. Shay Capital LLC acquired a new position in Sutro Biopharma during the 4th quarter worth $375,000. Finally, ProShare Advisors LLC boosted its holdings in 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 acquiring an additional 11,494 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.