HC Wainwright Reiterates Neutral Rating for Sutro Biopharma (NASDAQ:STRO)

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “neutral” rating reaffirmed by HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $2.00 target price on the stock, down from their prior target price of $12.00. HC Wainwright’s price objective suggests a potential upside of 146.88% from the stock’s previous close.

Other analysts have also issued reports about the stock. Bank of America lowered shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $11.00 to $1.00 in a research report on Friday. Wedbush lowered shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $2.00 in a research report on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, December 11th. Citizens Jmp lowered shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Wells Fargo & Company cut their price objective on shares of Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.75.

Sutro Biopharma Price Performance

NASDAQ STRO 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 price-to-earnings ratio of -0.50 and a beta of 1.22. Sutro Biopharma has a 52-week low of $0.81 and a 52-week high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($2.10). The company had revenue of $14.00 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned ($1.78) earnings per share. On average, analysts predict that Sutro Biopharma will post -2.92 EPS for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Sutro Biopharma in the third quarter worth $2,852,000. BNP Paribas Financial Markets grew its stake in shares of Sutro Biopharma by 1,195.1% in 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 last quarter. Rhumbline Advisers grew its stake in shares of Sutro Biopharma by 6.1% in the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock worth $233,000 after acquiring an additional 7,320 shares during the last quarter. Barclays PLC grew its stake in shares of Sutro Biopharma by 385.3% in the third quarter. Barclays PLC now owns 273,019 shares of the company’s stock worth $944,000 after acquiring an additional 216,757 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Sutro Biopharma by 30.7% in the third quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock worth $374,000 after acquiring an additional 25,416 shares during the last quarter. 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.