Sutro Biopharma, Inc. (NASDAQ:STRO) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 80.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 405,618 shares of the company's stock after selling 1,626,127 shares during the period. Millennium Management LLC owned about 0.49% of Sutro Biopharma worth $746,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of STRO. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sutro Biopharma during the fourth quarter valued at about $26,000. Vontobel Holding Ltd. grew 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 worth $46,000 after purchasing an additional 10,000 shares in the last quarter. Invesco Ltd. grew its stake in Sutro Biopharma by 54.2% in the fourth quarter. Invesco Ltd. now owns 38,749 shares of the company's stock worth $71,000 after purchasing an additional 13,620 shares in the last quarter. SG Americas Securities LLC grew 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 worth $74,000 after purchasing an additional 5,770 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Sutro Biopharma by 24.8% in the fourth 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 in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Stock Up 2.9%

Shares of NASDAQ STRO opened at $0.85 on Friday. The firm's 50-day moving average price is $0.82 and its two-hundred day moving average price is $1.47. Sutro Biopharma, Inc. has a 52-week low of $0.52 and a 52-week high of $5.17. The stock has a market capitalization of $71.62 million, a P/E ratio of -0.53 and a beta of 1.77.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $11.61 million. As a group, equities research analysts expect that Sutro Biopharma, Inc. will post -2.92 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on STRO shares. Bank of America decreased 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. Piper Sandler set a $2.00 price target on Sutro Biopharma in a research note on Friday, March 14th. Citizens Jmp downgraded Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research note on Friday, March 14th. HC Wainwright reiterated a "neutral" rating and issued a $2.00 price target on shares of Sutro Biopharma in a research note on Tuesday, April 29th. Finally, Wedbush downgraded Sutro Biopharma from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $8.00 to $2.00 in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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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