Sutro Biopharma (NASDAQ:STRO) Trading Down 7.1% – Time to Sell?

Sutro Biopharma, Inc. (NASDAQ:STRO) dropped 7.1% on Wednesday . The company traded as low as $31.51 and last traded at $30.8330. 33,344 shares were traded during trading, a decline of 86% from the average session volume of 240,835 shares. The stock had previously closed at $33.20.

Analysts Set New Price Targets

A number of research analysts have recently commented on STRO shares. Citizens Jmp increased their price target on Sutro Biopharma from $35.00 to $41.00 and gave the company a “market outperform” rating in a research note on Thursday, April 23rd. Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. Mizuho set a $50.00 target price on Sutro Biopharma and gave the company an “outperform” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised Sutro Biopharma from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Finally, Leerink Partners set a $43.00 price target on Sutro Biopharma and gave the stock an “outperform” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.44.

Sutro Biopharma Stock Down 5.9%

The company has a market cap of $517.58 million, a P/E ratio of -2.83 and a beta of 1.54. The firm’s 50 day moving average is $31.82 and its two-hundred day moving average is $22.80.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. As a group, research analysts forecast that Sutro Biopharma, Inc. will post -9 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently added to or reduced their stakes in STRO. State of Tennessee Department of Treasury bought a new stake in Sutro Biopharma in the fourth quarter worth approximately $86,000. Sigma Planning Corp bought a new position in shares of Sutro Biopharma during the 1st quarter worth approximately $312,000. Bank of America Corp DE grew its position in shares of Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after buying an additional 14,661 shares during the period. Jane Street Group LLC bought a new stake in shares of Sutro Biopharma in the 4th quarter valued at $265,000. Finally, Stempoint Capital LP acquired a new position in shares of Sutro Biopharma during the 1st quarter valued at $580,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

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.