Sutro Biopharma, Inc. (NASDAQ:STRO) Shares Sold by MPM Bioimpact LLC

MPM Bioimpact LLC lessened its stake in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 23.7% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Parkman Healthcare Partners LLC lifted its stake in 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 stake in 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 stake in 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 stake in 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 stake in 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. Hedge funds and other institutional investors own 96.99% of the company's stock.

Analyst Upgrades and Downgrades

STRO has been the subject of several recent analyst reports. Piper Sandler set a $2.00 target price on Sutro Biopharma in a research note on Friday, March 14th. Wedbush cut Sutro Biopharma from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $8.00 to $2.00 in a research note on Friday, March 14th. Bank of America cut Sutro Biopharma from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $11.00 to $1.00 in a research note on Friday, March 14th. HC Wainwright restated a "neutral" rating and set a $2.00 target price on shares of Sutro Biopharma in a research note on Tuesday, April 29th. Finally, Citizens Jmp lowered Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.14.

Sutro Biopharma Stock Down 5.0%

STRO traded down $0.05 during trading on Monday, hitting $0.87. 472,985 shares of the stock were exchanged, compared to its average volume of 1,112,616. The firm has a market capitalization of $73.14 million, a P/E ratio of -0.54 and a beta of 1.77. Sutro Biopharma, Inc. has a 1-year low of $0.52 and a 1-year high of $5.17. The stock has a fifty day moving average price of $0.80 and a two-hundred day moving average price of $1.73.

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

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.