Sutro Biopharma (NASDAQ:STRO) Receives "Neutral" Rating from Wedbush

Wedbush reiterated a "neutral" rating for Sutro Biopharma, raising its price target from $2.00 to $10.00. Other analysts have varied ratings, with Wall Street Zen downgrading to "sell" and Wells Fargo reducing its price target. Sutro Biopharma's stock is trading down, with a reverse split planned. Institutional investors hold 96.99% of shares, and insider buying has occurred recently.

Sutro Biopharma (NASDAQ:STRO - Get Free Report)'s stock had its "neutral" rating restated by analysts at Wedbush in a report released on Tuesday,RTT News reports. They presently have a $10.00 price objective on the stock, up from their prior price objective of $2.00.

A number of other brokerages also recently weighed in on STRO. Wall Street Zen downgraded Sutro Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday, November 8th. Wells Fargo & Company cut their price objective on 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. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Sutro Biopharma in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Sutro Biopharma has an average rating of "Hold" and an average target price of $5.80.

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Sutro Biopharma Trading Down 8.9%

STRO stock traded down $0.07 during mid-day trading on Tuesday, reaching $0.73. The company's stock had a trading volume of 2,090,760 shares, compared to its average volume of 766,908. Sutro Biopharma has a 12 month low of $0.52 and a 12 month high of $3.01. The business's 50 day moving average price is $0.92 and its 200 day moving average price is $0.87. The company has a market cap of $62.14 million, a price-to-earnings ratio of -0.28 and a beta of 1.61.

Sutro Biopharma's stock is scheduled to reverse split on Wednesday, December 3rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, December 2nd.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.25). Sutro Biopharma had a negative net margin of 206.77% and a negative return on equity of 852.70%. The company had revenue of $9.69 million for the quarter, compared to analyst estimates of $10.14 million. As a group, equities analysts expect that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Sutro Biopharma news, Director Connie Matsui acquired 50,000 shares of Sutro Biopharma stock in a transaction that occurred on Wednesday, October 15th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $40,000.00. Following the purchase, the director owned 50,000 shares of the company's stock, valued at approximately $40,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 111,754 shares of company stock worth $89,601 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Sutro Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of Sutro Biopharma by 78.9% in the 1st quarter. Acadian Asset Management LLC now owns 3,134,586 shares of the company's stock worth $2,037,000 after acquiring an additional 1,382,661 shares during the last quarter. Nuveen LLC bought a new position in shares of Sutro Biopharma during the 1st quarter valued at $189,000. RA Capital Management L.P. purchased a new position in Sutro Biopharma in the 1st quarter worth $2,885,000. Velan Capital Investment Management LP lifted its stake in Sutro Biopharma by 3,333.3% in the first quarter. Velan Capital Investment Management LP now owns 1,030,000 shares of the company's stock worth $670,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Sutro Biopharma during the second quarter valued at about $48,000. Institutional investors own 96.99% of the company's stock.

Sutro Biopharma Company Profile

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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.

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