Point72 Asset Management L.P. Sells 799,915 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Point72 Asset Management L.P. reduced its stake in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,197,538 shares of the company's stock after selling 799,915 shares during the period. Point72 Asset Management L.P. owned 2.66% of Sutro Biopharma worth $4,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STRO. SG Americas Securities LLC increased its stake in Sutro Biopharma by 16.6% in the fourth quarter. SG Americas Securities LLC now owns 40,432 shares of the company's stock valued at $74,000 after purchasing an additional 5,770 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in Sutro Biopharma in the fourth quarter valued at $32,000. Vontobel Holding Ltd. increased its stake in Sutro Biopharma by 66.7% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock valued at $46,000 after purchasing an additional 10,000 shares in the last quarter. Rhumbline Advisers increased its stake in Sutro Biopharma by 6.1% in the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company's stock valued at $233,000 after purchasing an additional 7,320 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in Sutro Biopharma in the fourth quarter valued at $178,000. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Stock Up 1.9%

Sutro Biopharma stock traded up $0.02 during midday trading on Friday, hitting $0.92. 721,581 shares of the stock were exchanged, compared to its average volume of 1,096,430. The stock has a market capitalization of $77.70 million, a price-to-earnings ratio of -0.57 and a beta of 1.77. Sutro Biopharma, Inc. has a 52-week low of $0.52 and a 52-week high of $5.17. The business's 50-day moving average price is $0.78 and its 200-day moving average price is $1.63.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STRO. HC Wainwright reiterated a "neutral" rating and set a $2.00 price objective on shares of Sutro Biopharma in a report on Tuesday, April 29th. Citizens Jmp cut shares of Sutro Biopharma from an "outperform" rating to a "market perform" rating in a report on Friday, March 14th. Bank of America cut their price target on shares of Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating on the stock in a report on Monday, May 19th. Wedbush cut shares of Sutro Biopharma from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $8.00 to $2.00 in a report on Friday, March 14th. Finally, Piper Sandler set a $2.00 price target on shares of Sutro Biopharma in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock 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.