Insider Buying: Sutro Biopharma (NASDAQ:STRO) Director Acquires 50,000 Shares of Stock

Key Points

• Director Buy-in: Sutro Biopharma Director Connie Matsui purchased 50,000 shares at $0.80 per share, totaling $40,000, which signifies a significant increase in her ownership of the stock.
• Recent Earnings Results: The company reported a quarterly EPS of ($0.14), outperforming estimates and generating $63.74 million in revenue, well above the consensus estimate of $14.55 million.
• Market Performance: Sutro Biopharma's shares recently traded at $0.81 and are subject to varying analyst ratings, with a consensus rating of "Hold" and an average target price of $4.47.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) Director Connie Matsui purchased 50,000 shares of Sutro Biopharma stock in a transaction on Wednesday, October 15th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $40,000.00. Following the acquisition, the director directly owned 50,000 shares of the company's stock, valued at approximately $40,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO traded up $0.03 on Thursday, hitting $0.81. The company's stock had a trading volume of 722,769 shares, compared to its average volume of 1,116,574. Sutro Biopharma, Inc. has a 12-month low of $0.52 and a 12-month high of $4.60. The company has a market capitalization of $68.41 million, a price-to-earnings ratio of -0.32 and a beta of 1.61. The stock has a 50 day moving average of $0.88 and a 200-day moving average of $0.83.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.25. Sutro Biopharma had a negative net margin of 201.32% and a negative return on equity of 852.70%. The company had revenue of $63.74 million for the quarter, compared to the consensus estimate of $14.55 million. Sell-side analysts expect that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Catalyst Funds Management Pty Ltd acquired a new position in Sutro Biopharma during the second quarter worth approximately $27,000. Cerity Partners LLC acquired a new position in Sutro Biopharma during the first quarter worth approximately $25,000. Vontobel Holding Ltd. increased its position in Sutro Biopharma by 100.0% during the first quarter. Vontobel Holding Ltd. now owns 50,000 shares of the company's stock worth $33,000 after purchasing an additional 25,000 shares during the last quarter. Savant Capital LLC acquired a new position in Sutro Biopharma during the second quarter worth approximately $37,000. Finally, CWM LLC grew its stake in Sutro Biopharma by 73.2% during the second quarter. CWM LLC now owns 56,657 shares of the company's stock worth $40,000 after buying an additional 23,941 shares during the period. Institutional investors and hedge funds own 96.99% of the company's stock.

Analyst Upgrades and Downgrades

STRO has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on shares of Sutro Biopharma from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sutro Biopharma in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Sutro Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Sutro Biopharma has a consensus rating of "Hold" and an average target price of $4.47.

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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