Wedbush Reaffirms “Neutral” Rating for Sutro Biopharma (NASDAQ:STRO)

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a report released on Tuesday,RTT News reports. They currently have a $100.00 price target on the stock, up from their prior price target of $20.00.

A number of other equities analysts have also weighed in on STRO. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sutro Biopharma in a report on Monday. Wall Street Zen downgraded Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Wells Fargo & Company cut their target price on Sutro Biopharma from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.00.

Sutro Biopharma Price Performance

STRO stock opened at $8.70 on Tuesday. The company’s 50-day moving average is $9.25 and its 200-day moving average is $8.75. The stock has a market capitalization of $740.72 million, a PE ratio of -3.33 and a beta of 1.61. Sutro Biopharma has a 1 year low of $5.23 and a 1 year high of $30.10.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.25). The firm had revenue of $9.69 million for the quarter, compared to analyst estimates of $10.14 million. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 206.77%. On average, analysts anticipate that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Connie Matsui purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were bought at an average cost of $8.00 per share, with a total value of $40,000.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $40,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 11,175 shares of company stock valued at $89,598 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the company. Catalyst Funds Management Pty Ltd purchased a new stake in Sutro Biopharma in the second quarter worth $27,000. Savant Capital LLC purchased a new stake in Sutro Biopharma in the 2nd quarter worth about $37,000. Bridgeway Capital Management LLC increased its holdings in Sutro Biopharma by 232.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $37,000 after acquiring an additional 30,000 shares during the last quarter. CWM LLC raised its stake in Sutro Biopharma by 73.2% in the 2nd quarter. CWM LLC now owns 56,657 shares of the company’s stock valued at $40,000 after acquiring an additional 23,941 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Sutro Biopharma by 174.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 60,617 shares of the company’s stock valued at $43,000 after purchasing an additional 38,561 shares during the last quarter. 96.99% of the stock is owned by institutional investors.

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.