Point72 Asset Management L.P. Has $4.04 Million Stock Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

Point72 Asset Management L.P. trimmed its position in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 26.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,197,538 shares of the company's stock after selling 799,915 shares during the period. Point72 Asset Management L.P. owned approximately 2.66% of Sutro Biopharma worth $4,043,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. SG Americas Securities LLC raised its holdings in Sutro Biopharma by 16.6% during the 4th quarter. SG Americas Securities LLC now owns 40,432 shares of the company's stock worth $74,000 after buying an additional 5,770 shares during the period. Rhumbline Advisers raised its holdings in Sutro Biopharma by 6.1% during the 4th quarter. Rhumbline Advisers now owns 126,698 shares of the company's stock worth $233,000 after buying an additional 7,320 shares during the period. Vontobel Holding Ltd. raised its holdings in Sutro Biopharma by 66.7% during the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock worth $46,000 after buying an additional 10,000 shares during the period. Wells Fargo & Company MN raised its holdings in Sutro Biopharma by 24.8% during the 4th quarter. Wells Fargo & Company MN now owns 52,738 shares of the company's stock worth $97,000 after buying an additional 10,466 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Sutro Biopharma by 74.3% during the 4th quarter. ProShare Advisors LLC now owns 26,961 shares of the company's stock worth $50,000 after buying an additional 11,494 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Stock Down 3.7%

Shares of STRO opened at $0.88 on Tuesday. The stock has a market capitalization of $74.18 million, a P/E ratio of -0.55 and a beta of 1.77. Sutro Biopharma, Inc. has a twelve month low of $0.52 and a twelve month high of $5.17. The company has a 50 day moving average of $0.79 and a 200-day moving average of $1.71.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.28). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The business had revenue of $17.40 million for the quarter, compared to the consensus estimate of $11.61 million. On average, sell-side analysts anticipate that Sutro Biopharma, Inc. will post -2.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on STRO. Wedbush downgraded shares of Sutro Biopharma from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $8.00 to $2.00 in a report on Friday, March 14th. Piper Sandler set a $2.00 target price on shares of Sutro Biopharma in a report on Friday, March 14th. Citizens Jmp downgraded shares of Sutro Biopharma from an "outperform" rating to a "market perform" rating in a report on Friday, March 14th. Bank of America dropped their target price on shares of Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating on the stock in a report on Monday. Finally, HC Wainwright restated a "neutral" rating and set a $2.00 target price on shares of Sutro Biopharma in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Sutro Biopharma presently has a consensus rating of "Hold" and an average target price of $6.11.

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.

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