Millennium Management LLC Sells 1,626,127 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Millennium Management LLC reduced its position in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 80.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 405,618 shares of the company's stock after selling 1,626,127 shares during the quarter. Millennium Management LLC owned approximately 0.49% of Sutro Biopharma worth $746,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Sutro Biopharma by 15.9% during 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 last quarter. Renaissance Technologies LLC grew its stake in Sutro Biopharma by 22.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,015,211 shares of the company's stock worth $1,868,000 after purchasing an additional 187,114 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Sutro Biopharma by 4.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 859,373 shares of the company's stock worth $1,581,000 after purchasing an additional 37,627 shares in the last quarter. Northern Trust Corp lifted its stake in Sutro Biopharma by 2.3% in the fourth quarter. Northern Trust Corp now owns 636,920 shares of the company's stock valued at $1,172,000 after buying an additional 14,492 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Sutro Biopharma by 351.0% during the 4th quarter. Prudential Financial Inc. now owns 547,510 shares of the company's stock worth $1,007,000 after buying an additional 426,100 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Trading Up 1.6%

Shares of STRO traded up $0.01 on Tuesday, reaching $0.84. The company's stock had a trading volume of 1,437,790 shares, compared to its average volume of 1,105,955. Sutro Biopharma, Inc. has a twelve month low of $0.52 and a twelve month high of $5.17. The stock has a market capitalization of $70.95 million, a PE ratio of -0.52 and a beta of 1.70. The firm has a fifty day moving average of $0.82 and a 200-day moving average of $1.44.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate 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 return on equity of 101.89% and a negative net margin of 77.01%. As a group, equities analysts anticipate that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STRO. Citizens Jmp lowered shares of Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research note on Friday, March 14th. HC Wainwright reaffirmed a "neutral" rating and issued a $2.00 price target on shares of Sutro Biopharma in a research note on Tuesday, April 29th. Piper Sandler set a $2.00 price objective on shares of Sutro Biopharma in a research report on Friday, March 14th. Wedbush downgraded Sutro Biopharma from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $8.00 to $2.00 in a research note on Friday, March 14th. Finally, Bank of America dropped their price target on Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating on the stock in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Sutro Biopharma has an average rating of "Hold" and an average price target of $6.11.

Sutro Biopharma 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.