Sutro Biopharma (NASDAQ:STRO) Price Target Lowered to $30.00 at HC Wainwright

Sutro Biopharma (NASDAQ:STROGet Rating) had its target price dropped by investment analysts at HC Wainwright from $35.00 to $30.00 in a research report issued on Wednesday, The Fly reports. HC Wainwright’s target price would suggest a potential upside of 462.85% from the stock’s current price.

STRO has been the topic of a number of other reports. Zacks Investment Research raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, March 3rd. JMP Securities reissued a “buy” rating and issued a $20.00 price target on shares of Sutro Biopharma in a report on Monday, April 11th. Finally, Wedbush lowered their price target on shares of Sutro Biopharma from $30.00 to $20.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $25.00.

Shares of STRO stock opened at $5.33 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.24 and a current ratio of 5.24. The firm has a 50-day moving average price of $7.67. The company has a market cap of $250.14 million, a PE ratio of -2.33 and a beta of 1.11. Sutro Biopharma has a 52-week low of $4.94 and a 52-week high of $23.70.

Sutro Biopharma (NASDAQ:STROGet Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.08). Sutro Biopharma had a negative net margin of 170.55% and a negative return on equity of 32.96%. As a group, research analysts anticipate that Sutro Biopharma will post -3.09 EPS for the current fiscal year.

In other Sutro Biopharma news, CEO William J. Newell bought 10,000 shares of the stock in a transaction dated Monday, March 14th. The shares were bought at an average cost of $7.75 per share, with a total value of $77,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Connective Portfolio Management LLC bought a new position in shares of Sutro Biopharma during the fourth quarter worth approximately $527,000. Barclays PLC increased its holdings in shares of Sutro Biopharma by 38.3% during the third quarter. Barclays PLC now owns 330,624 shares of the company’s stock worth $6,247,000 after purchasing an additional 91,630 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Sutro Biopharma by 1.7% during the third quarter. Panagora Asset Management Inc. now owns 154,133 shares of the company’s stock worth $2,912,000 after purchasing an additional 2,613 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Sutro Biopharma by 11.3% during the third quarter. Janus Henderson Group PLC now owns 216,813 shares of the company’s stock worth $4,095,000 after purchasing an additional 21,993 shares during the period. Finally, Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Sutro Biopharma by 13.1% during the third quarter. Lombard Odier Asset Management Switzerland SA now owns 483,763 shares of the company’s stock worth $9,138,000 after purchasing an additional 55,924 shares during the period. 92.68% of the stock is currently owned by institutional investors.

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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