Wells Fargo & Company Lowers Sutro Biopharma (NASDAQ:STRO) Price Target to $3.00

Sutro Biopharma (NASDAQ:STRO) had its target price lowered by Wells Fargo & Company from $4.00 to $3.00 in a report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts also recently weighed in on the stock. Bank of America reduced their target price on shares of Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating for the company in a research report on Monday, May 19th. Piper Sandler raised shares of Sutro Biopharma from a “neutral” rating to an “overweight” rating and set a $2.00 target price for the company in a research report on Monday, June 16th. HC Wainwright reissued a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.97.

Sutro Biopharma Stock Up 1.4%

Sutro Biopharma stock opened at $0.78 on Tuesday. Sutro Biopharma has a twelve month low of $0.52 and a twelve month high of $5.17. The firm has a 50 day moving average price of $0.80 and a 200-day moving average price of $1.02. The company has a market capitalization of $66.43 million, a P/E ratio of -0.31 and a beta of 1.66.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.25. Sutro Biopharma had a negative net margin of 201.32% and a negative return on equity of 852.70%. The firm had revenue of $63.74 million during the quarter, compared to the consensus estimate of $14.55 million. Equities analysts expect that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cerity Partners LLC bought a new position in Sutro Biopharma in the 1st quarter valued at $25,000. Catalyst Funds Management Pty Ltd purchased a new position in Sutro Biopharma in the 2nd quarter worth $27,000. Vontobel Holding Ltd. raised its position in Sutro Biopharma by 100.0% in the 1st quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company’s stock worth $33,000 after purchasing an additional 25,000 shares during the period. Savant Capital LLC purchased a new position in Sutro Biopharma in the 2nd quarter worth $37,000. Finally, CWM LLC increased its position in shares of Sutro Biopharma by 73.2% in the second quarter. CWM LLC now owns 56,657 shares of the company’s stock valued at $40,000 after acquiring an additional 23,941 shares during the period. 96.99% of the stock is owned by institutional investors.

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.