RA Capital Management L.P. Takes Position in Sutro Biopharma, Inc. $STRO

Key Points

• RA Capital Management L.P. acquired a stake in Sutro Biopharma, purchasing 4,434,637 shares valued at approximately $2.88 million, representing 5.26% of the company.
• Several institutional investors, including Wells Fargo and ProShare Advisors, have significantly increased their holdings in Sutro Biopharma during the last quarter.
• Brokerages have issued mixed ratings for Sutro Biopharma, with price targets ranging from $0.80 to $4.00, indicating uncertainty in the stock's future performance.

RA Capital Management L.P. purchased a new stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,434,637 shares of the company's stock, valued at approximately $2,885,000. RA Capital Management L.P. owned 5.26% of Sutro Biopharma at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STRO. Wells Fargo & Company MN raised its holdings in Sutro Biopharma by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 52,738 shares of the company's stock worth $97,000 after purchasing an additional 10,466 shares during the period. ProShare Advisors LLC increased its stake in Sutro Biopharma by 74.3% in 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 in the last quarter. Parkman Healthcare Partners LLC increased its stake in Sutro Biopharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company's stock worth $3,179,000 after buying an additional 11,793 shares in the last quarter. Invesco Ltd. increased its stake in Sutro Biopharma by 54.2% in the 4th quarter. Invesco Ltd. now owns 38,749 shares of the company's stock worth $71,000 after buying an additional 13,620 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Sutro Biopharma by 2.3% in the 4th quarter. Northern Trust Corp now owns 636,920 shares of the company's stock worth $1,172,000 after buying an additional 14,492 shares in the last quarter. 96.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on STRO. Bank of America cut their price target 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. Wells Fargo & Company cut their price target 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. Wall Street Zen lowered Sutro Biopharma from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. 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 report on Monday, June 16th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.47.

Sutro Biopharma Trading Down 4.3%

STRO opened at $0.86 on Tuesday. The firm has a market cap of $72.66 million, a P/E ratio of -0.34 and a beta of 1.57. Sutro Biopharma, Inc. has a 12 month low of $0.52 and a 12 month high of $4.80. The stock has a 50-day moving average of $0.81 and a 200 day moving average of $0.91.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last released its quarterly 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 company had revenue of $63.74 million during 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%. On average, research analysts forecast that Sutro Biopharma, Inc. will post -2.92 earnings per share for the current fiscal 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.

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