Sutro Biopharma (NASDAQ:STRO) Rating Lowered to Market Perform at Citizens Jmp

Citizens Jmp lowered shares of Sutro Biopharma (NASDAQ:STRO) from an outperform rating to a market perform rating in a report published on Friday morning, Marketbeat.com reports.

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

Sutro Biopharma Stock Down 35.2 %

Sutro Biopharma stock opened at $0.81 on Friday. The firm has a market capitalization of $66.80 million, a PE 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. The firm’s 50-day simple moving average is $1.78 and its 200 day simple moving average is $2.78.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter. Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. During the same quarter in the previous year, the company posted ($1.78) earnings per share. On average, research analysts expect that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in Sutro Biopharma during the third quarter worth approximately $2,852,000. BNP Paribas Financial Markets increased its holdings in shares of Sutro Biopharma by 1,195.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 82,524 shares of the company’s stock worth $286,000 after buying an additional 76,152 shares during the last quarter. Rhumbline Advisers increased its holdings 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 buying an additional 7,320 shares during the last quarter. Barclays PLC raised its position in shares of Sutro Biopharma by 385.3% in the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock worth $944,000 after buying an additional 216,757 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Sutro Biopharma by 30.7% in the third quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock valued at $374,000 after acquiring an additional 25,416 shares during the last quarter. 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.