Citizens Jmp Downgrades Sutro Biopharma (NASDAQ:STRO) to Market Perform

Sutro Biopharma (NASDAQ:STRO) was downgraded by equities research analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research report issued on Friday, Marketbeat reports.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company dropped their target price 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. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday, November 18th. Wedbush cut shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and cut their target price for the company from $8.00 to $2.00 in a report on Friday. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a research note on Wednesday, December 11th. Finally, Bank of America lowered shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $11.00 to $1.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.00.

Sutro Biopharma Price Performance

NASDAQ:STRO opened at $0.81 on Friday. Sutro Biopharma has a 12 month low of $0.81 and a 12 month high of $6.13. The firm has a market capitalization of $66.80 million, a PE ratio of -0.50 and a beta of 1.22. The business’s fifty day moving average price is $1.75 and its 200 day moving average price is $2.74.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($2.10). The business had revenue of $14.00 million for the quarter, compared to analyst estimates 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 business posted ($1.78) EPS. As a group, equities analysts anticipate that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of Sutro Biopharma in the 3rd quarter valued at approximately $2,852,000. BNP Paribas Financial Markets lifted its holdings in Sutro Biopharma by 1,195.1% in the third quarter. BNP Paribas Financial Markets now owns 82,524 shares of the company’s stock valued at $286,000 after acquiring an additional 76,152 shares during the period. Rhumbline Advisers boosted its position in shares of Sutro Biopharma by 6.1% during the 4th 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. Barclays PLC grew its stake in shares of Sutro Biopharma by 385.3% during the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock worth $944,000 after purchasing an additional 216,757 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Sutro Biopharma by 30.7% in the 3rd quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock valued at $374,000 after purchasing an additional 25,416 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other 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.