Wedbush Downgrades Sutro Biopharma (NASDAQ:STRO) to Neutral

Sutro Biopharma (NASDAQ:STRO) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued on Friday, MarketBeat.com reports. They presently have a $2.00 price target on the stock, down from their prior price target of $8.00. Wedbush’s price objective would indicate a potential upside of 146.88% from the company’s current price.

A number of other analysts also recently weighed in on the company. Bank of America downgraded Sutro Biopharma from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $11.00 to $1.00 in a research report on Friday. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a report on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price target on shares of Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Sutro Biopharma Price Performance

Shares of STRO opened at $0.81 on Friday. Sutro Biopharma has a 1-year low of $0.81 and a 1-year high of $6.13. The company has a market capitalization of $66.80 million, a P/E ratio of -0.50 and a beta of 1.22. The firm’s 50 day simple moving average is $1.75 and its 200 day simple moving average is $2.74.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data 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). 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 the consensus estimate of $10.44 million. During the same period in the prior year, the firm posted ($1.78) earnings per share. On average, equities analysts anticipate that Sutro Biopharma will post -2.92 earnings per share for the current year.

Institutional Trading of Sutro Biopharma

Large investors have recently modified their holdings of the business. Suvretta Capital Management LLC raised its holdings in Sutro Biopharma by 3.8% in the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock worth $13,731,000 after purchasing an additional 275,000 shares in the last quarter. Vestal Point Capital LP bought a new position in Sutro Biopharma in the fourth quarter worth about $4,729,000. Geode Capital Management LLC lifted its holdings in Sutro Biopharma by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after buying an additional 132,015 shares during the period. Parkman Healthcare Partners LLC grew its holdings in shares of Sutro Biopharma by 0.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company’s stock worth $3,179,000 after acquiring an additional 11,793 shares during the period. Finally, State Street Corp grew its holdings in shares of Sutro Biopharma by 5.2% during the 3rd quarter. State Street Corp now owns 1,647,162 shares of the company’s stock worth $5,699,000 after acquiring an additional 81,855 shares during the period. 96.99% of the stock is owned by institutional investors.

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.