Seven Fleet Capital Management LP Makes New Investment in Sutro Biopharma, Inc. $STRO

Key Points

• Seven Fleet Capital Management acquired 159,118 Sutro Biopharma shares worth approximately $5.3 million, representing about 0.96% of the company and 0.9% of the fund’s portfolio.
• Institutional ownership remains very high at 96.99%, with several other investment firms—including AQR Capital, Affinity Asset Advisors, and OrbiMed—recently increasing or initiating positions.
• Analysts maintain a consensus “Buy” rating with an average price target of $47.30, despite Sutro missing quarterly revenue and EPS estimates; STRO recently traded at $20.07.

Seven Fleet Capital Management LP acquired a new position in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 159,118 shares of the company's stock, valued at approximately $5,283,000. Sutro Biopharma makes up approximately 0.9% of Seven Fleet Capital Management LP's investment portfolio, making the stock its 27th largest holding. Seven Fleet Capital Management LP owned about 0.96% of Sutro Biopharma as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Velan Capital Investment Management LP boosted its holdings in Sutro Biopharma by 2.0% in the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company's stock worth $2,709,000 after buying an additional 60,000 shares during the period. UBS Group AG grew its position in shares of Sutro Biopharma by 14.0% during the third quarter. UBS Group AG now owns 1,845,839 shares of the company's stock worth $1,602,000 after purchasing an additional 226,955 shares in the last quarter. AQR Capital Management LLC raised its stake in Sutro Biopharma by 1,052.8% during the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company's stock valued at $859,000 after purchasing an additional 1,206,330 shares during the period. Affinity Asset Advisors LLC lifted its holdings in Sutro Biopharma by 42.9% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company's stock worth $26,642,000 after purchasing an additional 321,137 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in Sutro Biopharma in the 1st quarter worth approximately $19,956,000. 96.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STRO has been the topic of several research analyst reports. Leerink Partners set a $43.00 target price on shares of Sutro Biopharma and gave the stock an "outperform" rating in a report on Friday, May 15th. Barclays started coverage on shares of Sutro Biopharma in a report on Thursday, May 28th. They issued an "overweight" rating and a $56.00 price target on the stock. HC Wainwright boosted their price target on shares of Sutro Biopharma from $28.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Stifel Nicolaus set a $48.00 price objective on Sutro Biopharma and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Citigroup reiterated a "market outperform" rating on shares of Sutro Biopharma in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $47.30.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $20.07 on Friday. The firm has a market capitalization of $332.78 million, a PE ratio of -1.68 and a beta of 1.48. The stock's fifty day moving average is $24.59 and its 200 day moving average is $26.55. Sutro Biopharma, Inc. has a fifty-two week low of $7.15 and a fifty-two week high of $43.85.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The business had revenue of $9.84 million for the quarter, compared to the consensus estimate of $11.96 million. Equities analysts forecast that Sutro Biopharma, Inc. will post -8.41 EPS for the current year.

Sutro Biopharma Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.

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