Citizens Jmp Downgrades Sutro Biopharma (NASDAQ:STRO) to Market Perform

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

STRO has been the subject of several other research reports. Wells Fargo & Company cut their price target 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. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Bank of America downgraded shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and lowered their target price for the company from $11.00 to $1.00 in a report on Friday. Wedbush cut shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $8.00 to $2.00 in a report on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Sutro Biopharma currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Sutro Biopharma Trading Down 35.2 %

Shares of STRO opened at $0.81 on Friday. The company’s 50 day simple moving average is $1.75 and its 200-day simple moving average is $2.72. Sutro Biopharma has a 12-month low of $0.81 and a 12-month high of $6.13. The firm has a market cap of $66.80 million, a PE ratio of -0.50 and a beta of 1.22.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($2.10). Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. The business had revenue of $14.00 million during the quarter, compared to analyst estimates of $10.44 million. During the same quarter in the prior year, the firm posted ($1.78) earnings per share. As a group, equities research analysts forecast that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Trading of Sutro Biopharma

Several large investors have recently modified their holdings of STRO. Gladius Capital Management LP acquired a new stake in Sutro Biopharma during the 3rd quarter valued at approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Sutro Biopharma during the 4th quarter valued at approximately $26,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Sutro Biopharma during the fourth quarter worth approximately $32,000. Virtu Financial LLC acquired a new stake in shares of Sutro Biopharma during the third quarter worth approximately $77,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Sutro Biopharma by 66.7% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock worth $46,000 after buying an additional 10,000 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.