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

Wedbush cut shares of Sutro Biopharma (NASDAQ:STRO) from an outperform rating to a neutral rating in a report published on Friday morning, MarketBeat.com reports. The brokerage currently has $2.00 price objective on the stock, down from their prior price objective of $8.00.

STRO has been the subject of a number of other reports. Bank of America cut Sutro Biopharma from a “buy” rating to an “underperform” rating and decreased their price target for the company from $11.00 to $1.00 in a research note on Friday. Wells Fargo & Company decreased their price objective 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 reissued 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, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Sutro Biopharma in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.00.

Sutro Biopharma Stock Down 35.2 %

NASDAQ STRO opened at $0.81 on Friday. Sutro Biopharma has a 52 week low of $0.81 and a 52 week high of $6.13. The company has a 50 day moving average price of $1.78 and a 200 day moving average price of $2.78. The firm has a market cap of $66.80 million, a PE ratio of -0.50 and a beta of 1.22.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. During the same quarter in the previous year, the business earned ($1.78) earnings per share. On average, equities research analysts anticipate that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can acquired a new stake in Sutro Biopharma during the 3rd quarter worth about $2,852,000. BNP Paribas Financial Markets grew its holdings in Sutro Biopharma by 1,195.1% during the third quarter. BNP Paribas Financial Markets now owns 82,524 shares of the company’s stock worth $286,000 after acquiring an additional 76,152 shares during the period. Rhumbline Advisers raised its position in Sutro Biopharma by 6.1% during the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock valued at $233,000 after acquiring an additional 7,320 shares in the last quarter. Barclays PLC lifted its holdings in Sutro Biopharma by 385.3% in the third quarter. Barclays PLC now owns 273,019 shares of the company’s stock valued at $944,000 after acquiring an additional 216,757 shares during the period. Finally, Jane Street Group LLC boosted its position in Sutro Biopharma by 30.7% in the 3rd quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock worth $374,000 after purchasing an additional 25,416 shares in the last quarter. Hedge funds and other 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.