Sutro Biopharma (NASDAQ:STRO) Given Neutral Rating at HC Wainwright

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $2.00 price objective on the stock, down from their previous price objective of $12.00. HC Wainwright’s target price points to a potential upside of 146.88% from the stock’s current price.

STRO has been the subject of several other research reports. Wedbush lowered shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $2.00 in a research report on Friday. Wells Fargo & Company reduced 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 report on Wednesday, December 11th. Citizens Jmp downgraded shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Wednesday, December 11th. Finally, Bank of America downgraded shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $11.00 to $1.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.75.

Sutro Biopharma Stock Performance

Sutro Biopharma stock opened at $0.81 on Monday. The company has a 50-day simple moving average of $1.75 and a 200-day simple moving average of $2.72. The firm has a market capitalization of $66.80 million, a P/E ratio of -0.50 and a beta of 1.22. Sutro Biopharma has a one year low of $0.81 and a one year high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Thursday, March 13th. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.86) by ($2.10). The firm had revenue of $14.00 million for the quarter, compared to the consensus estimate of $10.44 million. 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 prior year, the company posted ($1.78) EPS. As a group, sell-side analysts forecast that Sutro Biopharma will post -2.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Velan Capital Investment Management LP acquired a new position in shares of Sutro Biopharma in the fourth quarter worth about $55,000. Vestal Point Capital LP acquired a new position in shares of Sutro Biopharma in the fourth quarter worth about $4,729,000. Suvretta Capital Management LLC boosted its holdings in shares of Sutro Biopharma by 3.8% in the fourth quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock worth $13,731,000 after buying an additional 275,000 shares during the period. Shay Capital LLC acquired a new position in shares of Sutro Biopharma in the fourth quarter worth about $375,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Sutro Biopharma by 74.3% in the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock worth $50,000 after buying an additional 11,494 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.