Sutro Biopharma (NASDAQ:STRO) Rating Lowered to Underperform at Bank of America

Sutro Biopharma (NASDAQ:STRO) was downgraded by investment analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $1.00 price objective on the stock, down from their prior price objective of $11.00. Bank of America‘s target price points to a potential downside of 20.00% from the stock’s previous close.

STRO has been the subject of several other research reports. Wells Fargo & Company reduced their price objective on shares of Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. 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. Wedbush restated an “outperform” rating and set a $8.00 price objective on shares of Sutro Biopharma in a research report on Tuesday, December 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Sutro Biopharma Stock Down 6.7 %

Shares of NASDAQ:STRO opened at $1.25 on Friday. Sutro Biopharma has a fifty-two week low of $1.25 and a fifty-two week high of $6.13. The company has a market cap of $103.07 million, a PE ratio of -0.78 and a beta of 1.22. The company’s 50-day moving average price is $1.79 and its 200 day moving average price is $2.79.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter. 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 company earned ($1.78) EPS. As a group, equities analysts anticipate that Sutro Biopharma will post -2.92 EPS for the current year.

Institutional Investors Weigh In On Sutro Biopharma

Hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Sutro Biopharma in the 4th quarter valued at about $26,000. Gladius Capital Management LP purchased a new position in Sutro Biopharma during the third quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. purchased a new position in Sutro Biopharma during the fourth quarter valued at approximately $32,000. Vontobel Holding Ltd. increased its stake in Sutro Biopharma by 66.7% in the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Sutro Biopharma by 74.3% during the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock worth $50,000 after acquiring an additional 11,494 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.