Affinity Asset Advisors LLC Purchases New Holdings in 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 acquired a new stake in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 752,722 shares of the company's stock, valued at approximately $490,000. Affinity Asset Advisors LLC owned about 0.89% of Sutro Biopharma at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Suvretta Capital Management LLC grew its stake in Sutro Biopharma by 3.8% in the fourth quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company's stock valued at $13,731,000 after acquiring an additional 275,000 shares during the period. Vestal Point Capital LP acquired a new position in Sutro Biopharma in the fourth quarter valued at about $4,729,000. Parkman Healthcare Partners LLC grew its stake in Sutro Biopharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company's stock valued at $3,179,000 after acquiring an additional 11,793 shares during the period. Nuveen Asset Management LLC grew its stake in Sutro Biopharma by 10.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,323,777 shares of the company's stock valued at $2,436,000 after acquiring an additional 124,154 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Sutro Biopharma by 15.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company's stock valued at $2,091,000 after acquiring an additional 156,139 shares during the period. Institutional investors own 96.99% of the company's stock.

Sutro Biopharma Trading Down 4.3%

Shares of STRO stock traded down $0.04 on Friday, hitting $0.86. 262,576 shares of the stock were exchanged, compared to its average volume of 389,210. The firm has a market capitalization of $72.66 million, a P/E ratio of -0.34 and a beta of 1.66. The business has a 50-day moving average of $0.81 and a 200 day moving average of $0.92. Sutro Biopharma, Inc. has a fifty-two week low of $0.52 and a fifty-two week high of $4.80.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.25. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 201.32%.The firm had revenue of $63.74 million during the quarter, compared to analysts' expectations of $14.55 million. As a group, research analysts forecast that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

STRO has been the subject of a number of research analyst reports. Piper Sandler raised Sutro Biopharma from a "neutral" rating to an "overweight" rating and set a $2.00 target price for the company in a research note on Monday, June 16th. Wells Fargo & Company decreased their target price 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 decreased their target price 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, Wall Street Zen cut Sutro Biopharma from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Two investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.47.

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.