Sutro Biopharma’s (STRO) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report report published on Monday morning, Marketbeat reports. The firm currently has a $2.00 target price on the stock, down from their prior target price of $12.00. HC Wainwright also issued estimates for Sutro Biopharma’s Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.41) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.46) EPS, FY2025 earnings at ($1.68) EPS, FY2026 earnings at ($0.20) EPS, FY2027 earnings at ($0.17) EPS, FY2028 earnings at ($0.13) EPS and FY2029 earnings at ($0.09) EPS.

A number of other brokerages have also recently issued reports on STRO. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, December 11th. Wedbush cut Sutro Biopharma from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $8.00 to $2.00 in a research note on Friday, March 14th. Citizens Jmp cut Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, March 14th. Bank of America cut Sutro Biopharma from a “buy” rating to an “underperform” rating and decreased their price target for the company from $11.00 to $1.00 in a research note on Friday, March 14th. Finally, Wells Fargo & Company decreased their target price on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.63.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $0.82 on Monday. Sutro Biopharma has a fifty-two week low of $0.76 and a fifty-two week high of $6.13. The company has a market cap of $67.68 million, a price-to-earnings ratio of -0.51 and a beta of 1.22. The stock has a fifty day moving average price of $1.69 and a 200-day moving average price of $2.66.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($2.10). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The business had revenue of $14.00 million for the quarter, compared to the consensus estimate of $10.44 million. During the same quarter in the prior year, the company earned ($1.78) earnings per share. Research analysts predict that Sutro Biopharma will post -2.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Several hedge funds have recently made changes to their positions in the stock. Vestal Point Capital LP bought a new stake in Sutro Biopharma during the fourth quarter worth about $4,729,000. Bank of Montreal Can purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $2,852,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $1,512,000. Prudential Financial Inc. increased its holdings in Sutro Biopharma by 351.0% during the 4th quarter. Prudential Financial Inc. now owns 547,510 shares of the company’s stock valued at $1,007,000 after purchasing an additional 426,100 shares during the period. Finally, Suvretta Capital Management LLC increased its holdings in Sutro Biopharma by 3.8% during the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock valued at $13,731,000 after purchasing an additional 275,000 shares during the period. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.