MPM Bioimpact LLC Reduces Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

MPM Bioimpact LLC trimmed its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,160,062 shares of the company's stock after selling 672,002 shares during the quarter. MPM Bioimpact LLC owned 2.62% of Sutro Biopharma worth $3,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Parkman Healthcare Partners LLC lifted its position in shares of Sutro Biopharma by 0.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,727,925 shares of the company's stock worth $3,179,000 after purchasing an additional 11,793 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Sutro Biopharma by 10.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,323,777 shares of the company's stock worth $2,436,000 after purchasing an additional 124,154 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Sutro Biopharma by 4.6% during 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 during the last quarter. DAFNA Capital Management LLC lifted its position in shares of Sutro Biopharma by 32.6% during the fourth quarter. DAFNA Capital Management LLC now owns 437,079 shares of the company's stock worth $804,000 after purchasing an additional 107,500 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Sutro Biopharma by 91.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 189,700 shares of the company's stock worth $349,000 after purchasing an additional 90,500 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citizens Jmp downgraded Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research report on Friday, March 14th. Bank of America downgraded Sutro Biopharma from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $11.00 to $1.00 in a report on Friday, March 14th. HC Wainwright restated a "neutral" rating and issued a $2.00 price objective on shares of Sutro Biopharma in a report on Tuesday, April 29th. Piper Sandler set a $2.00 price objective on Sutro Biopharma in a report on Friday, March 14th. Finally, Wedbush downgraded Sutro Biopharma from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $8.00 to $2.00 in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.14.

Sutro Biopharma Price Performance

Sutro Biopharma stock traded up $0.03 during trading hours on Friday, reaching $0.91. The stock had a trading volume of 1,195,144 shares, compared to its average volume of 1,112,257. The company has a market cap of $76.91 million, a price-to-earnings ratio of -0.57 and a beta of 1.77. The business's 50 day moving average price is $0.80 and its 200-day moving average price is $1.76. Sutro Biopharma, Inc. has a 52 week low of $0.52 and a 52 week high of $5.17.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.28). The firm had revenue of $17.40 million during the quarter, compared to the consensus estimate of $11.61 million. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. On average, sell-side analysts forecast that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

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.