Sutro Biopharma (NASDAQ:STRO) Price Target Cut to $0.80 by Analysts at Bank of America

Sutro Biopharma (NASDAQ:STRO) had its price objective trimmed by Bank of America from $1.00 to $0.80 in a report issued on Monday,Benzinga reports. The firm currently has an underperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wedbush downgraded 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, March 14th. Piper Sandler set a $2.00 price objective on shares of Sutro Biopharma in a research note on Friday, March 14th. HC Wainwright reissued a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a report on Tuesday, April 29th. Finally, Citizens Jmp lowered shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sutro Biopharma presently has a consensus rating of “Hold” and a consensus target price of $6.11.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $0.88 on Monday. The company has a market cap of $74.18 million, a price-to-earnings ratio of -0.55 and a beta of 1.77. The stock’s fifty day moving average price is $0.79 and its 200 day moving average price is $1.71. Sutro Biopharma has a 1 year low of $0.52 and a 1 year high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.28). Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. The firm had revenue of $17.40 million for the quarter, compared to analysts’ expectations of $11.61 million. Research analysts expect that Sutro Biopharma will post -2.92 earnings per share for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Several large investors have recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in Sutro Biopharma during the first quarter valued at $25,000. Dynamic Technology Lab Private Ltd acquired a new position in Sutro Biopharma in the 4th quarter worth about $26,000. China Universal Asset Management Co. Ltd. acquired a new stake in Sutro Biopharma in the fourth quarter valued at approximately $32,000. Vontobel Holding Ltd. raised its stake in shares of Sutro Biopharma by 100.0% during the 1st quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company’s stock worth $33,000 after buying an additional 25,000 shares during the period. Finally, ProShare Advisors LLC grew its stake in Sutro Biopharma by 74.3% in the 4th quarter. ProShare Advisors LLC now owns 26,961 shares of the company’s stock valued at $50,000 after acquiring an additional 11,494 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.