Sutro Biopharma (NASDAQ:STRO) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Sutro Biopharma (NASDAQ:STRO) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other research analysts have also issued reports on STRO. Wedbush restated a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a research report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sutro Biopharma in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on shares of Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sutro Biopharma currently has an average rating of “Hold” and a consensus target price of $4.47.

Sutro Biopharma Stock Down 13.4%

STRO traded down $0.13 on Friday, hitting $0.82. The company had a trading volume of 1,270,695 shares, compared to its average volume of 1,665,768. The company has a market cap of $69.20 million, a PE ratio of -0.31 and a beta of 1.75. The business’s fifty day simple moving average is $0.95 and its 200 day simple moving average is $0.89. Sutro Biopharma has a 12-month low of $0.52 and a 12-month high of $4.60.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $10.14 million. On average, analysts anticipate that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Connie Matsui bought 50,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was bought at an average price of $0.80 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the director directly owned 50,000 shares in the company, valued at approximately $40,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 111,754 shares of company stock valued at $89,601 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in Sutro Biopharma by 73.2% in the second quarter. CWM LLC now owns 56,657 shares of the company’s stock worth $40,000 after purchasing an additional 23,941 shares in the last quarter. Vestal Point Capital LP grew its position in shares of Sutro Biopharma by 1.2% in the 1st quarter. Vestal Point Capital LP now owns 2,600,000 shares of the company’s stock worth $1,692,000 after buying an additional 30,000 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new position in shares of Sutro Biopharma during the 2nd quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC lifted its position in Sutro Biopharma by 174.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 60,617 shares of the company’s stock valued at $43,000 after acquiring an additional 38,561 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Sutro Biopharma during the first quarter valued at approximately $25,000. Institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.