Sutro Biopharma’s (STRO) Neutral Rating Reaffirmed at Wedbush

Sutro Biopharma (NASDAQ:STRO)‘s stock had its “neutral” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They presently have a $2.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 145.01% from the company’s current price.

A number of other equities research analysts also recently weighed in on STRO. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sutro Biopharma in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded Sutro Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.47.

Sutro Biopharma Stock Down 13.4%

Shares of STRO traded down $0.13 during midday trading on Friday, reaching $0.82. 1,270,695 shares of the stock were exchanged, compared to its average volume of 1,665,768. The stock’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $0.89. The company has a market cap of $69.20 million, a P/E ratio of -0.31 and a beta of 1.75. Sutro Biopharma has a twelve month low of $0.52 and a twelve month high of $4.60.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.28). Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 206.77%.The business had revenue of $9.69 million for the quarter. As a group, analysts predict that Sutro Biopharma will post -2.92 earnings per share for the current year.

Insider Transactions at Sutro Biopharma

In related news, Director Connie Matsui acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was acquired at an average price of $0.80 per share, with a total value of $40,000.00. Following the purchase, the director directly owned 50,000 shares in the company, valued at approximately $40,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 111,754 shares of company stock worth $89,601. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sutro Biopharma

Several large investors have recently modified their holdings of STRO. RA Capital Management L.P. acquired a new position in shares of Sutro Biopharma during the first quarter valued at about $2,885,000. Velan Capital Investment Management LP increased its position in Sutro Biopharma by 197.1% in the 2nd quarter. Velan Capital Investment Management LP now owns 3,060,000 shares of the company’s stock valued at $2,185,000 after buying an additional 2,030,000 shares in the last quarter. Acadian Asset Management LLC raised its stake in Sutro Biopharma by 78.9% during the 1st quarter. Acadian Asset Management LLC now owns 3,134,586 shares of the company’s stock worth $2,037,000 after buying an additional 1,382,661 shares during the period. AQR Capital Management LLC boosted its holdings in Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after acquiring an additional 1,206,330 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in Sutro Biopharma in the first quarter worth approximately $490,000. 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.