ADAR1 Capital Management LLC lifted its position in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 681.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 524,441 shares of the company's stock after purchasing an additional 457,364 shares during the period. ADAR1 Capital Management LLC owned about 3.17% of Sutro Biopharma worth $13,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgeway Capital Management LLC lifted its position in shares of Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company's stock valued at $37,000 after acquiring an additional 30,000 shares in the last quarter. Invesco Ltd. grew its position in shares of Sutro Biopharma by 137.8% during the first quarter. Invesco Ltd. now owns 92,139 shares of the company's stock worth $60,000 after purchasing an additional 53,390 shares in the last quarter. Cerity Partners LLC raised its stake in Sutro Biopharma by 169.9% during the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company's stock valued at $75,000 after purchasing an additional 66,372 shares during the period. Qube Research & Technologies Ltd purchased a new position in Sutro Biopharma in the 2nd quarter worth approximately $82,000. Finally, State of Tennessee Department of Treasury bought a new position in Sutro Biopharma in the 4th quarter worth approximately $86,000. 96.99% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on STRO. Lifesci Capital raised shares of Sutro Biopharma to a "strong-buy" rating in a report on Friday, May 1st. Leerink Partners set a $43.00 target price on shares of Sutro Biopharma and gave the company an "outperform" rating in a research note on Friday, May 15th. Barclays began coverage on shares of Sutro Biopharma in a research note on Thursday, May 28th. They set an "overweight" rating and a $56.00 target price for the company. Citigroup reiterated an "outperform" rating on shares of Sutro Biopharma in a report on Friday, April 17th. Finally, Truist Financial assumed coverage on shares of Sutro Biopharma in a report on Thursday, June 11th. They set a "buy" rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Sutro Biopharma presently has an average rating of "Moderate Buy" and an average target price of $52.44.
View Our Latest Analysis on Sutro Biopharma
Sutro Biopharma Stock Performance
Shares of STRO opened at $23.73 on Wednesday. The company's fifty day moving average is $27.90 and its 200 day moving average is $25.08. Sutro Biopharma, Inc. has a fifty-two week low of $7.15 and a fifty-two week high of $43.85. The stock has a market capitalization of $393.21 million, a PE ratio of -2.15 and a beta of 1.51.
Sutro Biopharma (NASDAQ:STRO - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $8.89 million. As a group, research analysts forecast that Sutro Biopharma, Inc. will post -9 earnings per share for the current year.
About Sutro Biopharma
(
Free Report)
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.
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