Affinity Asset Advisors LLC Acquires Shares of 752,722 Sutro Biopharma, Inc. $STRO

Key Points

• Affinity Asset Advisors LLC acquired 752,722 shares of Sutro Biopharma, Inc., valued at around $490,000, representing approximately 0.89% of the company's stock.
• Several analysts have downgraded Sutro Biopharma's ratings, with Wall Street Zen changing their rating from "hold" to "sell" and Bank of America reducing their target price from $1.00 to $0.80.
• Despite negative earnings projections, Sutro Biopharma reported revenue of $63.74 million for the last quarter, exceeding analysts' expectations of $14.55 million.

Affinity Asset Advisors LLC bought a new stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 752,722 shares of the company's stock, valued at approximately $490,000. Affinity Asset Advisors LLC owned approximately 0.89% of Sutro Biopharma at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in STRO. Cerity Partners LLC acquired a new position in Sutro Biopharma during the 1st quarter valued at about $25,000. Vontobel Holding Ltd. raised its stake in shares of Sutro Biopharma by 100.0% in the first 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 last quarter. ProShare Advisors LLC raised its stake in shares of Sutro Biopharma by 74.3% in the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company's stock worth $50,000 after purchasing an additional 11,494 shares during the last quarter. Velan Capital Investment Management LP purchased a new position in shares of Sutro Biopharma in the fourth quarter worth about $55,000. Finally, Invesco Ltd. raised its stake in shares of Sutro Biopharma by 137.8% in 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 during the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on STRO shares. Wall Street Zen cut Sutro Biopharma from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Wells Fargo & Company reduced their price objective on Sutro Biopharma from $4.00 to $3.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Bank of America reduced their price objective on Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating for the company in a research note on Monday, May 19th. Finally, Piper Sandler upgraded Sutro Biopharma from a "neutral" rating to an "overweight" rating and set a $2.00 price objective for the company in a research note on Monday, June 16th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.47.

Sutro Biopharma Stock Performance

Sutro Biopharma stock traded down $0.01 during midday trading on Thursday, hitting $0.90. 170,909 shares of the company were exchanged, compared to its average volume of 394,660. The firm has a market capitalization of $75.90 million, a PE ratio of -0.35 and a beta of 1.66. Sutro Biopharma, Inc. has a fifty-two week low of $0.52 and a fifty-two week high of $4.80. The business has a fifty day simple moving average of $0.81 and a two-hundred day simple moving average of $0.93.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.25. The firm had revenue of $63.74 million for the quarter, compared to analyst estimates of $14.55 million. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 201.32%. As a group, equities analysts expect that Sutro Biopharma, Inc. will post -2.92 earnings per share for the current year.

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.