Sutro Biopharma (NASDAQ:STRO) Earns Neutral Rating from Wedbush

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

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

Sutro Biopharma Trading Down 13.4%

Shares of STRO traded down $0.13 on Friday, reaching $0.82. The company’s stock had a trading volume of 1,270,695 shares, compared to its average volume of 1,665,768. Sutro Biopharma has a twelve month low of $0.52 and a twelve month high of $4.60. The stock has a market capitalization of $69.20 million, a PE ratio of -0.31 and a beta of 1.75. The firm has a fifty day moving average of $0.95 and a 200-day moving average of $0.89.

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

Insider Buying and Selling

In other news, Director Connie Matsui bought 50,000 shares of the stock in a transaction on Wednesday, October 15th. The shares were purchased at an average cost of $0.80 per share, for a total transaction of $40,000.00. Following the completion of the purchase, the director directly owned 50,000 shares in the company, valued at $40,000. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 111,754 shares of company stock valued at $89,601 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently added to or reduced their stakes in STRO. Acadian Asset Management LLC boosted its position in Sutro Biopharma by 78.9% during the first quarter. Acadian Asset Management LLC now owns 3,134,586 shares of the company’s stock worth $2,037,000 after purchasing an additional 1,382,661 shares during the period. Nuveen LLC purchased a new stake in shares of Sutro Biopharma during the 1st quarter valued at approximately $189,000. RA Capital Management L.P. bought a new position in Sutro Biopharma in the 1st quarter worth approximately $2,885,000. Velan Capital Investment Management LP boosted its holdings in Sutro Biopharma by 3,333.3% in the 1st quarter. Velan Capital Investment Management LP now owns 1,030,000 shares of the company’s stock worth $670,000 after buying an additional 1,000,000 shares during the period. Finally, State of Wyoming purchased a new position in Sutro Biopharma in the 1st quarter valued at approximately $62,000. Hedge funds and other institutional investors 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.