Insider Buying: Sutro Biopharma (NASDAQ:STRO) Insider Buys 12,504 Shares of Stock

Key Points

• David Pauling, an insider at Sutro Biopharma, purchased 12,504 shares at $0.80 each, increasing his ownership by 21.11% to a total of 71,737 shares valued at approximately $57,389.60.
• Sutro Biopharma's stock saw a 3.5% increase on Thursday, trading at $0.81, despite having a market cap of only $68.41 million.
• Analysts have mixed views on Sutro Biopharma, with Wells Fargo reducing its price target from $4.00 to $3.00, while other analysts have set a consensus price target of $4.47.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) insider David Pauling purchased 12,504 shares of the stock in a transaction on Wednesday, October 15th. The shares were purchased at an average cost of $0.80 per share, for a total transaction of $10,003.20. Following the acquisition, the insider directly owned 71,737 shares of the company's stock, valued at approximately $57,389.60. This represents a 21.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sutro Biopharma Stock Up 3.5%

NASDAQ:STRO traded up $0.03 during trading hours on Thursday, hitting $0.81. 722,769 shares of the stock traded hands, compared to its average volume of 1,116,574. Sutro Biopharma, Inc. has a 1 year low of $0.52 and a 1 year high of $4.60. The company has a market cap 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 price of $0.88 and a 200 day moving average price of $0.83.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share 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 business had revenue of $63.74 million for the quarter, compared to the consensus estimate of $14.55 million. Equities analysts forecast that Sutro Biopharma, Inc. will post -2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STRO. Exchange Traded Concepts LLC increased its position in Sutro Biopharma by 201.9% during the first quarter. Exchange Traded Concepts LLC now owns 136,623 shares of the company's stock valued at $89,000 after acquiring an additional 91,363 shares during the last quarter. 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 valued at $33,000 after acquiring an additional 25,000 shares during the last quarter. Cerity Partners LLC bought a new position in Sutro Biopharma during the first quarter valued at $25,000. Invesco Ltd. increased its position in Sutro Biopharma by 137.8% during the first quarter. Invesco Ltd. now owns 92,139 shares of the company's stock valued at $60,000 after acquiring an additional 53,390 shares during the last quarter. Finally, Nuveen LLC bought a new position in Sutro Biopharma during the first quarter valued at $189,000. Institutional investors own 96.99% of the company's stock.

Analysts Set New Price Targets

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

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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