Sutro Biopharma (NASDAQ:STRO) Given New $10.00 Price Target at HC Wainwright

Sutro Biopharma (NASDAQ:STRO) had its target price lifted by HC Wainwright to $10.00 in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

STRO has been the topic of several other reports. Wedbush restated a “neutral” rating and set a $100.00 price target (up from $20.00) on shares of Sutro Biopharma in a report on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sutro Biopharma in a report on Wednesday, December 17th. Wall Street Zen downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 15th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.60.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO opened at $10.37 on Monday. Sutro Biopharma has a 52-week low of $5.23 and a 52-week high of $21.50. The company has a market capitalization of $88.25 million, a PE ratio of -0.40 and a beta of 1.62. The company has a fifty day moving average of $9.43 and a 200-day moving average of $8.78.

Sutro Biopharma (NASDAQ:STRO) last released 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 firm had revenue of $9.69 million for the quarter, compared to analyst estimates of $10.14 million. On average, equities analysts forecast that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Connie Matsui acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $40,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 11,175 shares of company stock valued at $89,598 over the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Trading of Sutro Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Sutro Biopharma during the 3rd quarter worth approximately $387,000. Velan Capital Investment Management LP raised its position in shares of Sutro Biopharma by 2.0% during the third quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock worth $2,709,000 after purchasing an additional 60,000 shares during the period. Bank of America Corp DE raised its position in shares of Sutro Biopharma by 51.3% during the third quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock worth $104,000 after purchasing an additional 40,488 shares during the period. Shay Capital LLC lifted its holdings in shares of Sutro Biopharma by 20.1% in the 3rd quarter. Shay Capital LLC now owns 312,051 shares of the company’s stock worth $271,000 after purchasing an additional 52,162 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Sutro Biopharma by 244.8% in the 3rd quarter. Two Sigma Investments LP now owns 396,785 shares of the company’s stock valued at $345,000 after purchasing an additional 281,717 shares during the period. 96.99% of the stock is owned by institutional investors.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.