Acadian Asset Management LLC Increases Stock Holdings in Sutro Biopharma, Inc. $STRO

Key Points

• Acadian Asset Management LLC increased its stake in Sutro Biopharma, Inc. by 78.9% in Q1, acquiring an additional 1,382,661 shares, bringing its total ownership to 3,134,586 shares valued at $2,037,000.
• Sutro Biopharma has a current market cap of $75.58 million and a P/E ratio of -0.35, with shares trading at $0.89.
• Analysts have mixed ratings on Sutro Biopharma, with a consensus rating of "Hold" and an average target price of $4.47.

Acadian Asset Management LLC increased its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 78.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,134,586 shares of the company's stock after purchasing an additional 1,382,661 shares during the quarter. Acadian Asset Management LLC owned approximately 3.71% of Sutro Biopharma worth $2,037,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in STRO. ProShare Advisors LLC raised its stake in Sutro Biopharma by 74.3% during the 4th quarter. ProShare Advisors LLC now owns 26,961 shares of the company's stock valued at $50,000 after purchasing an additional 11,494 shares during the last quarter. Northern Trust Corp grew its holdings in Sutro Biopharma by 2.3% during the 4th quarter. Northern Trust Corp now owns 636,920 shares of the company's stock worth $1,172,000 after acquiring an additional 14,492 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Sutro Biopharma by 100.0% during the 1st quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company's stock worth $33,000 after acquiring an additional 25,000 shares during the last quarter. Vestal Point Capital LP grew its position in shares of Sutro Biopharma by 1.2% during 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 period. Finally, Velan Capital Investment Management LP acquired a new position in shares of Sutro Biopharma in the 4th quarter valued at $55,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on STRO shares. Piper Sandler raised shares of Sutro Biopharma from a "neutral" rating to an "overweight" rating and set a $2.00 price target on the stock in a research note on Monday, June 16th. Wall Street Zen upgraded shares of Sutro Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Wells Fargo & Company decreased their price objective 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 analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.47.

Sutro Biopharma Trading Down 1.8%

Shares of NASDAQ:STRO traded down $0.02 during trading on Friday, reaching $0.89. 487,233 shares of the company traded hands, compared to its average volume of 542,497. The firm has a market capitalization of $75.16 million, a price-to-earnings ratio of -0.35 and a beta of 1.57. Sutro Biopharma, Inc. has a 52-week low of $0.52 and a 52-week high of $4.60. The business's fifty day moving average is $0.86 and its 200-day moving average is $0.85.

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

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.