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

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

STRO has been the subject of several other research reports. Bank of America downgraded shares of 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 reduced their price objective on 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. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, December 11th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a research note on Monday, November 18th. Finally, Wedbush downgraded Sutro Biopharma from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $2.00 in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.00.

Sutro Biopharma Trading Down 35.2 %

Shares of NASDAQ STRO opened at $0.81 on Friday. The stock has a market capitalization of $66.80 million, a PE ratio of -0.50 and a beta of 1.22. Sutro Biopharma has a twelve month low of $0.81 and a twelve month high of $6.13. The stock has a fifty day simple moving average of $1.78 and a 200-day simple moving average of $2.78.

Sutro Biopharma (NASDAQ:STRO) last posted 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 period last year, the business posted ($1.78) earnings per share. On average, equities analysts predict that Sutro Biopharma will post -2.92 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Suvretta Capital Management LLC lifted its holdings in Sutro Biopharma by 3.8% in the fourth quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock valued at $13,731,000 after acquiring an additional 275,000 shares during the period. Vestal Point Capital LP acquired a new stake in shares of Sutro Biopharma in the fourth quarter valued at about $4,729,000. Geode Capital Management LLC boosted its holdings in Sutro Biopharma by 7.7% during 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 in the last quarter. Parkman Healthcare Partners LLC boosted its holdings in Sutro Biopharma by 0.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company’s stock worth $3,179,000 after buying an additional 11,793 shares in the last quarter. Finally, State Street Corp grew its position in Sutro Biopharma by 5.2% during the third quarter. State Street Corp now owns 1,647,162 shares of the company’s stock worth $5,699,000 after buying an additional 81,855 shares during the period. Institutional investors and hedge funds own 96.99% of the company’s stock.

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.