Sutro Biopharma’s (STRO) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Sutro Biopharma (NASDAQ:STRO) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $2.00 price objective on the stock.

A number of other research firms have also issued reports on STRO. Citizens Jmp lowered Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. Piper Sandler set a $2.00 price objective on shares of Sutro Biopharma in a research note on Friday, March 14th. Bank of America cut shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $11.00 to $1.00 in a research note on Friday, March 14th. Finally, Wedbush downgraded shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $2.00 in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.63.

Sutro Biopharma Price Performance

STRO stock opened at $1.07 on Tuesday. The company has a market cap of $90.27 million, a price-to-earnings ratio of -0.66 and a beta of 1.70. The company has a fifty day moving average price of $0.92 and a 200 day moving average price of $1.96. Sutro Biopharma has a 12 month low of $0.52 and a 12 month high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.44 million. During the same quarter in the prior year, the firm posted ($1.78) earnings per share. As a group, analysts anticipate that Sutro Biopharma will post -2.92 earnings per share for the current year.

Institutional Trading of Sutro Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in shares of Sutro Biopharma by 16.6% during the 4th quarter. SG Americas Securities LLC now owns 40,432 shares of the company’s stock worth $74,000 after acquiring an additional 5,770 shares in the last quarter. Rhumbline Advisers boosted its position in Sutro Biopharma by 6.1% during the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock worth $233,000 after purchasing an additional 7,320 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Sutro Biopharma by 66.7% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Sutro Biopharma by 24.8% in the fourth quarter. Wells Fargo & Company MN now owns 52,738 shares of the company’s stock valued at $97,000 after buying an additional 10,466 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Sutro Biopharma by 74.3% during the 4th 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 last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.