Wedbush Cuts Sutro Biopharma (NASDAQ:STRO) Price Target to $20.00

Sutro Biopharma (NASDAQ:STROGet Rating) had its price target dropped by research analysts at Wedbush from $30.00 to $20.00 in a report issued on Tuesday, The Fly reports. Wedbush’s price objective would indicate a potential upside of 297.61% from the company’s previous close.

Several other research analysts have also issued reports on STRO. Zacks Investment Research upgraded Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Thursday, March 3rd. JMP Securities restated a “buy” rating and set a $20.00 target price on shares of Sutro Biopharma in a report on Monday, April 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sutro Biopharma currently has an average rating of “Buy” and a consensus price target of $25.83.

Sutro Biopharma stock opened at $5.03 on Tuesday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $7.74. Sutro Biopharma has a 52-week low of $4.94 and a 52-week high of $23.70. The firm has a market capitalization of $236.06 million, a price-to-earnings ratio of -2.20 and a beta of 1.11.

Sutro Biopharma (NASDAQ:STROGet Rating) last released its quarterly earnings data on Monday, February 28th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.16). Sutro Biopharma had a negative return on equity of 32.96% and a negative net margin of 170.55%. The company had revenue of $10.65 million for the quarter, compared to analyst estimates of $10.69 million. On average, sell-side analysts forecast that Sutro Biopharma will post -3.09 EPS for the current fiscal year.

In other news, CEO William J. Newell purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average price of $7.75 per share, for a total transaction of $77,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of STRO. Suvretta Capital Management LLC boosted its holdings in Sutro Biopharma by 30.2% in the third quarter. Suvretta Capital Management LLC now owns 2,233,695 shares of the company’s stock valued at $42,194,000 after acquiring an additional 518,314 shares during the last quarter. Banco Santander S.A. acquired a new position in Sutro Biopharma in the first quarter valued at about $3,288,000. Eventide Asset Management LLC lifted its stake in Sutro Biopharma by 14.3% in the fourth quarter. Eventide Asset Management LLC now owns 2,708,975 shares of the company’s stock valued at $40,310,000 after buying an additional 338,000 shares during the period. Frazier Management LLC lifted its stake in Sutro Biopharma by 21.0% in the fourth quarter. Frazier Management LLC now owns 1,776,479 shares of the company’s stock valued at $26,434,000 after buying an additional 307,816 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Sutro Biopharma by 527.2% in the third quarter. Goldman Sachs Group Inc. now owns 326,157 shares of the company’s stock valued at $6,161,000 after buying an additional 274,151 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Sutro Biopharma Company Profile (Get Rating)

Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

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