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

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday, Marketbeat 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 indicates a potential upside of 123.19% from the company’s previous close.

A number of other brokerages also recently commented on STRO. Bank of America downgraded 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 research report on Friday, March 14th. Wells Fargo & Company reduced their price objective on 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. Wedbush downgraded Sutro Biopharma from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $2.00 in a research report on Friday, March 14th. Citizens Jmp downgraded Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday, March 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.63.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock opened at $0.90 on Monday. Sutro Biopharma has a one year low of $0.76 and a one year high of $6.13. The company has a market cap of $73.89 million, a price-to-earnings ratio of -0.56 and a beta of 1.22. The business’s 50 day moving average price is $1.71 and its 200 day moving average price is $2.67.

Sutro Biopharma (NASDAQ:STRO) last announced 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 return on equity of 101.89% and a negative net margin of 77.01%. The company had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $10.44 million. During the same quarter in the previous year, the business posted ($1.78) EPS. On average, analysts predict that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sutro Biopharma in the fourth quarter valued at $26,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Sutro Biopharma in the fourth quarter valued at $32,000. Vontobel Holding Ltd. grew its stake in shares of 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 buying an additional 10,000 shares in the last quarter. ProShare Advisors LLC grew its stake 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 valued at $50,000 after buying an additional 11,494 shares in the last quarter. Finally, Velan Capital Investment Management LP acquired a new stake in shares of Sutro Biopharma in the fourth quarter valued at $55,000. 96.99% of the stock is 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.